discuss When is a sale completed?

[LaunchUp.com]

I just read another thread that discussed a domain that was reported sold, but then later the deal fell through.. I found it important to open this thread to discuss this. When do you report a name as sold/completed?

As domainers we need to determine a set guideline to prevent inaccurate stats or reporting. Because in the thread.. The seller was sincere and honest, but the reporting was too early? So in the sales thread we need to qualify the sales; did you get your money? Did the buyer get their name?

When should a domain be reported as sold?

Here's my opinion:

I personally do not report a sale until the money gets deposited in my bank account. I just don't feel a sale should be reported until it's completed. But this is not anything against anyone. It's just my personal conviction. I don't feel secure to report something until the person pays then, confirms they received the merchandise/inspection period and then escrow releases funds to me. Then maybe I'll report the sale here depending on the buyer agreement.

And lastly, the sale reporting thread here on namepros uses the word, "completed" so I think that's the key. If the sale isn't "completed" then don't report it. If it's still in escrow, or the buyer just agreed via email then it's not completed. It's completed when the buyer gets the domain and you get your money. IMO

The only sales that are completed by word of mouth are sales on namepros because we have a community here that keeps everyone accountable and agree that sold means sold. And a review/rating system. But outside of this we gotta be more specific and define this. Yes, It sound so simple yet it's the simple things we often get wrong or look over.

 

[Pierre Barnard]

I personally do not report a sale until the money gets deposited in my bank account. I just don't feel a sale should be reported until it's completed.

I agree, this should be the only way.

 

[biggie]

Hi


there is sort of a "SOP" or "standard operating procedure" that exists among domainers in forum/board settings:

when names are posted for sale, particularly at " Fixed-Pricing", any viewer can quote the name of interest with the price, and then post "sold" to claim the domain.

now, at that point, although the transaction may not be concluded, by posting "sold" the potential buyer reserves the domain until both parties formalize an agreement.

but, yes i agree, for reporting purposes a domain isn't really sold until the transaction is concluded.

imo...