20i Domains

selling Domain with SEDO (payment plan)

Discussion in 'General Board' started by sunroomguy, Sep 21, 2017.

  1. sunroomguy United Kingdom

    sunroomguy Member

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    Selling a UK domain using SEDO - the offer (xx,xxx) is for 50 % of funds now and remainder by end of year.

    My understanding is that we would transfer the domain into a SEDO account - and they would only release the domain when final payment is made.

    (If the final payment was not made then Domain would revert back to us and the buyer would forfeit the 50% paid)

    Anything to watch out for? Anyone else done this? Problems?

    Many Thanks
     
  2. Domain Forum

    Acorn Domains Elite Member

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  3. martin-s United Kingdom

    martin-s Well-Known Member

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    They could trash the name having only made part payment though? Unless 50% is just a deposit to secure the right to buy, and they don't have any access to use the domain until the balance payment is made?
     
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    Last edited: Sep 21, 2017
  4. sunroomguy United Kingdom

    sunroomguy Member

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    Good point - thank you.

    In the deal SEDO has put forward - the Domain would be held in a domain registrar account by Sedo on behalf of the Parties.

    Also, Sedo would be authorized to allow Buyer administrative use of the DOMAIN and to list the Buyer as the administrative contacts with the registrar.

    In event buyer does not pay remaining 50% - the domain would come back to us - and any payments would be considered lease payments for the domain
     
  5. Nigel United Kingdom

    Nigel Well-Known Member

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    we've been dealing with sedo since 2003 and first time I've heard of this sort of deal although we've had buyer's asking for instalments in the comments area (which we've always declined). Is a sedo broker handling the sale on behalf of the buyer? Did the broker make contact first or did you just receive an offer on the domain direct from the buyer?
     
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  6. Adam H

    Adam H Well-Known Member Exclusive Member

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    Like martin said, I'd be worried of abuse especially if its a premium. Unless the 50% down payment was an amount you would consider your self happy with if they did backout after wrecking the domains reputation.

    "the end of the year" is only a couple of months away. So if they can't stump up the cash now, id make a counter offer of 50% down payment and release & usage rights upon final payment.
     
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  7. sunroomguy United Kingdom

    sunroomguy Member

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    This offer has come via the SEDO broker - and they have sent us potential contract to agree (or not)


     
  8. Systreg

    Systreg Well-Known Member Full Member

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    I'd never heard of that as a payment option on Sedo either, I think they should advertise that as available for all domain sales, I'd definitely be interested in selling domains on payment plans.
     
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  9. martin-s United Kingdom

    martin-s Well-Known Member

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    God no. Wouldn't touch it with a bargepole.
     
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  10. JMI

    JMI Active Member Acorn Supporter

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    Letting people without means trash good names... If they don't have the funds to raise a few grand then sadly will they really have the means to make it a successful venture.. therefore it's already doomed. The End.
     
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  11. Nigel United Kingdom

    Nigel Well-Known Member

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    Personally I wouldn't like it but it has to be your decision on this. You've got the contract and know the history, value of domain, and previous interest. I did a few searches on this and seems that escrow.com offer a similar service and found info that uniregister do similar so perhaps its more common on very high value domains.
     
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  12. namealot United Kingdom

    namealot Well-Known Member

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    Competitively priced name would sell without the need for payment plan ?



    Third party with beneficial interest dictating T and C ,s ?
    Damage that could be done to name,
    Full Tand C,s more so the potential liabilities not known,
    (Ownership/liability is certainly a concern e.g use name for illegal/fraudulent purpose, coin it in hand it back let the shit storm coming hit you/legal owner ? ).
    Returned (potentially) after x mths for nowt + bonus of original sum smacks there playing greed / gullibility,
    Back to back but buying initially for half? You sell, your terms (if your desperate buyer terms) if you one step from bust sedo terms ? I'd walk away.
     
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  13. Carlos Mexico

    Carlos Active Member

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    I think the chances of a domain being trashed are very low, those kind of people are going after reg fee domains.
     
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  14. dnauctions

    dnauctions Active Member

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    Very unusual situation, and i don't envy your position.

    They may be just testing the viability of the domain for whatever their end use really is. If the project doesn't work out, they wont pay the balance.

    Have they disclosed what they intend to use it for. ??
     
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  15. sunroomguy United Kingdom

    sunroomguy Member

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    I dont know the use - (all negotiations are via broker) - but we are talking about a 3 char generic word.

    I appreciate all the comments - to be honest I had not thought out the potential negative consequences with regards to reputation.

    That said, I have also heard privately from others in similar situations - which had worked out just fine (indeed in one example the buyer failed to make all the payments and the seller got the domain back)

    Thanks again everyone
     
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  16. Adam H

    Adam H Well-Known Member Exclusive Member

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    Chances maybe low for someone to purchase an expensive domain and intentionally trash it, but mistakes happen. Especially for startups who may have an allocated budget for marketing. They only have to choose the wrong marketer for the domain to get whacked either manually or algorithmically. As a start up with little to no reputation they are more likely to bin it and start fresh after learning from their mistake ( a costly one ) than they would be prepared to repair the damage long term and potentially slow down progress.

    Even if the chances are small, as the domain seller who has no interest as to whether the buyer succeeds in his venture or not, a small chance is enough to warrant being extra cautious in a reasonably large transaction.........imo.
     
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  17. martin-s United Kingdom

    martin-s Well-Known Member

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    Low or otherwise, people don't always trash names deliberately. Sometimes they're just naive or badly informed.
     
  18. dog

    dog Active Member

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    I would use Epik for this type of transaction as they are a registrar.
     
  19. zomgmike United States

    zomgmike New Member

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    SEDO has a good reputation, haven't heard a single bad thing about them. They've been around as long as I can remember.
     
  20. martin-s United Kingdom

    martin-s Well-Known Member

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    Read this forum and you'll find quite a few of us say bad things!
     
  21. zomgmike United States

    zomgmike New Member

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    Fair enough, I am new here. My experience is different.