discuss What are the Possible Reasons A Person Would Agree A Deal And Price And Then Back Off?

[GoneWalkabout]

After a two year period amounting to about four short bouts of negotiation I finally agreed a deal on a name with a seemingly nice domainer. The negotiations were friendly and good and we met half way to each others price expectations.

We sorted price, payment - everything - finally - and both seemed very happy. Not a massive amount, just a couple of thousand.

On the day when payment is due, a few days after the agreement, everything goes cold and turns into a non-payment.

Obviously they can't afford the name or no longer want it.

Naturally, I'm annoyed at the time wasted on the deal and the non-payment, but then I start thinking of the many reasons, good and bad, why the buyer would have been so keen, for so long, to buy the name and then delay the payment before finally disappearing altogether.

One possible reason is they could have had a possible buyer lined up and that deal fell through.

Can anyone suggest other possible reasons why a deal the buyer really wanted might fall through at the last minute?

 

[johnn]

If they don't want to pay they will not and nothing you can do about the transaction. May be because he is a domaines and wants RESELLER price?

If the member is here on NP:
1. Report to the Mod the dialog between him and you
2. Issue a Negative feedback so other members know and avoid him for future transaction

3. Send an email to his WIFE and ask what was the problem?

 

[timestamp]

After negotiating for 2 years, he knows that he is only buyer you have.

 

[wwwweb]

Maybe try to setup a payment plan, most likely they don’t have funds, or had their own side sale fall thru.

Another good option could be to place your agreed upon bid on a parking lander live, so they know that their 2 year’s worth of work is live for anyone to buy, might light the fire for them to close the deal.

The equity markets are off also, if they were exposed, or on margin it could have caused them some financial issues, so many possibilities.

 

[manpreet]

After a two year period amounting to about four short bouts of negotiation I finally agreed a deal on a name with a seemingly nice domainer. The negotiations were friendly and good and we met half way to each others price expectations.

We sorted price, payment - everything - finally - and both seemed very happy. Not a massive amount, just a couple of thousand.

On the day when payment is due, a few days after the agreement, everything goes cold and turns into a non-payment.

Obviously they can't afford the name or no longer want it.

Naturally, I'm annoyed at the time wasted on the deal and the non-payment, but then I start thinking of the many reasons, good and bad, why the buyer would have been so keen, for so long, to buy the name and then delay the payment before finally disappearing altogether.

One possible reason is they could have had a possible buyer lined up and that deal fell through.

Can anyone suggest other possible reasons why a deal the buyer really wanted might fall through at the last minute?

Was testing the price for domain as he had a similar domain too. This is the most possible reason for me so far.

 

[Sutruk]

Can anyone suggest other possible reasons why a deal the buyer really wanted might fall through at the last minute?

There are literally 1,000 reasons. Why are you trying to find the reason? He doen't want to pay for the domain. Just move on and stop wasting your time with him.
Don't count it as a sale until you get the funds in your pocket.

 

[Pay.My.id]

Why buyer back off ? May be she /he died before close the transaction . Or buyer only want to compare your price with simliar price in another marketplace. Or buyer change their decision and pick cheaper domain than your name.

 

[GoneWalkabout]

There are literally 1,000 reasons. Why are you trying to find the reason? He doen't want to pay for the domain. Just move on and stop wasting your time with him.

Normally so true, and you are right about moving on, but this is just a downtime discussion about the possible 1,000 reasons. Simple as that - if I wanted more from the individual (or closure) I would have mentioned the name, the buyer, etc, but not needed.

I had my own reason in the specific example. I genuinely think he was almost a good guy, had a buyer to flip on to, then lost the buyer. I just wondered what would be other possibilities....

Humanity is an inquisitive race, me included.

To paraphrase, So far we've had good, bad and sad possible reasons:

the good:
he simply just couldn't get the cash together

he got hit by outside factors like the financial markets drop

the bad:
he was fishing for price comparison for his own similar name

he wants an even lower price further down the line

the sad:
He died

It would be interesting to get more possible reasons so that in the future we might be able to sniff them out and not waste our own time.

 

[Sutruk]

Normally so true, and you are right about moving on, but this is just a downtime discussion about the possible 1,000 reasons. Simple as that - if I wanted more from the individual (or closure) I would have mentioned the name, the buyer, etc, but not needed.

I had my own reason in the specific example. I genuinely think he was almost a good guy, had a buyer to flip on to, then lost the buyer. I just wondered what would be other possibilities....

Humanity is an inquisitive race, me included.

To paraphrase, So far we've had good, bad and sad possible reasons:

the good:
he simply just couldn't get the cash together

he got hit by outside factors like the financial markets drop

the bad:
he was fishing for price comparison for his own similar name

he wants an even lower price further down the line

the sad:
He died

It would be interesting to get more possible reasons so that in the future we might be able to sniff them out and not waste our own time.

Agree. So you just have said 3 reasons, out of 1,000 (or more) possible reasons.
What I mean, is that I have dealt with some buyers also backing off from a deal, but I was really not bothered about trying to know the reason.
When it comes the time to pay and show the monies, they just back off, don't want to spend the money, and that's all.
Sometimes they give you an excuse, or try to explain the step back. I don't mind the excuse.
The only pity is the waste of time.
Cheers.

 

[capybara]

#634. Was not a real buyer to begin with, just doing research/trolling.

 

[myfavorite]

From the comparison angle, he/she may have opted for a similar domain.

I experienced such, it was a case of I have accepted the buyer's offer then he suddenly went cold.

Dan sent his details to me. I contacted him to find out if his reason for backing out was what I can help him out with, but no reply whatsoever from him.

Some months later, I searched the net using his data and saw he acquired a similar name with site already online.

 

[wwwweb]

Post the name and bin price on namepros, you just never know, his loss, could be someone else’s gain, and you could be made whole.

The markets are getting hit again today, some people use their excess margin like a bank account, and that could have cut off funding.

I just had a buyer who offered $3500 for a domain last week, and it was accepted, he failed to make payment, went radio silent for 8 days, and now comes back with a $2000 offer, and now I have upped the price to $5000, because I want to show him I can play also, and I could care less if I lose the sale, as I gave him an edge on the deal in the first place.

I have noticed younger buyers make deals first, then worry about payment second.

Maybe your buyer got the corona virus who knows?

 

[Sutruk]

I just had a buyer who offered $3500 for a domain last week, and it was accepted, he failed to make payment, went radio silent for 8 days, and now comes back with a $2000 offer

Sometimes, when the buyer comes with an offer and you accept it without couterning, he has the feeling that he offered too much to you, so he comes back with a lower offer (if he comes back).
The book says that you have always to counter, so the buyer doesn't feel like offering too much for the domain.
But that's just what the book says...

 

[ArielT]

Probably he was not not convinced and in the last moment he thought now or never

 

[Bob Hawkes]

There are literally 1,000 reasons.

Don't count it as a sale until you get the funds in your pocket.

I agree 100% with this.

There are many possible reasons. Things happen in life. Yes, it is unfortunate, and ultimately agreeing to a price and terms is a form of contract, it is not realistically enforceable and it is not helpful to speculate on the possible reasons. The reasons may be very good ones (a new medical situation, a family crisis, a job loss, their house burned down, etc.).

Beyond, as suggested, if in contact offer a payment plan option, the best thing to do is simply move on. As @Sutruk said, only count it as a sale when the money is in your pocket, before that it is nothing more than a possibility.

Best wishes at reselling it to someone else, maybe even for more , @GoneWalkabout !

Bob

PS This is one place that the analogy with selling real estate might be worthwhile. Sometimes property sales fall through even late in stage. If agents spent all of their time worrying about why, it would not be productive. They simply move on to new clients.

 

[wwwweb]

Sometimes, when the buyer comes with an offer and you accept it without couterning, he has the feeling that he offered too much to you, so he comes back with a lower offer (if he comes back).
The book says that you have always to counter, so the buyer doesn't feel like offering too much for the domain.
But that's just what the book says...

That one started out at $1000, then $2000, then $3500 to finally mutually agree... but I do agree with you I have seen your scenario of a quick acceptance on a first offer. Many times you have no choice to accept really good first offers, on names that aren't worth the offer, or have never had any interest etc... If a buyer is light enough to back off, after a first offer acceptance, who knows how serious they were in the first place.

 

[Sutruk]

That one started out at $1000, then $2000, then $3500 to finally mutually agree... but I do agree with you I have seen your scenario of a quick acceptance on a first offer. Many times you have no choice to accept really good first offers, on names that aren't worth the offer, or have never had any interest etc... If a buyer is light enough to back off, after a first offer acceptance, who knows how serious they were in the first place.

Then you did it right. And I fully support your response to increase the price to $5000. If he wanted to play, then you too

 

[rh2000]

After a two year period amounting to about four short bouts of negotiation I finally agreed a deal on a name with a seemingly nice domainer. The negotiations were friendly and good and we met half way to each others price expectations.

We sorted price, payment - everything - finally - and both seemed very happy. Not a massive amount, just a couple of thousand.

On the day when payment is due, a few days after the agreement, everything goes cold and turns into a non-payment.

Obviously they can't afford the name or no longer want it.

Naturally, I'm annoyed at the time wasted on the deal and the non-payment, but then I start thinking of the many reasons, good and bad, why the buyer would have been so keen, for so long, to buy the name and then delay the payment before finally disappearing altogether.

One possible reason is they could have had a possible buyer lined up and that deal fell through.

Can anyone suggest other possible reasons why a deal the buyer really wanted might fall through at the last minute?

2 years? That is a lot of time wasted. It could be a lot of reasons why the deal didn't work. I would be more mad about the time wasted.

 

[BaileyUK]

If the Negotiations went on for two years then you can take-it from me, this buyer is only vaguely interested in the domain in the first place.

More of a like to have rather than any necessity. Remember domainers by nature are a moody bunch, He probably agreed the sale on one of his 3 out 365 happy days

 

[Simpsonrocket]

I once had a deal on a geo domain with a CEO. Suddenly she stopped responding to my emails. After few messages as to why she has not yet bought the domain yet. She replied saying, 'she never knew that they had a domain already set aside to replace their current name' Another end user told me after reaching a deal, that he spoke with his team about the domain but unfortunately they won't be buying it. Just to tell you that there are many possible reasons why end users back off from a deal.

 

[Simpsonrocket]