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  1. #1
    Join Date
    Sep 2004
    Posts
    3,313

    Seems the buyers have more rights than the sellers.

    I received two bids on a name a bit back & accepted the first one. These were two different bidders. The first one accepted my price and after 3 months of non payment, the transaction was finally cancelled.

    Bidder number 2 may have been a better choice.

    Minimum bid on this name was 8k, so not a drop in the bucket.

    I'd like to see 2 things to avoid this:

    1) If you want to bid over a certain amount, you need a $100 deposit. Non refundable. Half of this going to the seller after a non payment.

    2) Seller able to choose length of time for standing offer. I'm kind of sick of waiting 7 days for a bidder to have no reply or counter offer. I think 48 hours is fine. And 3 Business days for payment. Nobody need longer than this for a bank wire.(I don't think?)

  2. #2
    Join Date
    Oct 2002
    Posts
    10,987

    Re: Seems the buyers have more rights than the sellers.

    Originally posted by subg
    ...and after 3 months of non payment, the transaction was finally cancelled.

    You waited 3 Months...



    Who are you...?
    Mother Theresa?
    "

  3. #3
    Join Date
    Oct 2007
    Posts
    1,750
    You can ask for a transaction to be cancelled if the buyer hasn't paid after one week.

  4. #4
    Join Date
    Oct 2004
    Location
    Cambridge, MA USA
    Posts
    526
    Hello All,

    Sedo.com has two types of certification designed for those buyers who would like to place high offers. This is to provide better security to our marketplace.

    For buyers who would like to place offers greater than 10,000 USD/EUR/GBP in any Sedo/GreatDomains Premium Auction Event, they will need to submit a certification application, a bank statement or utility bill, and a photo ID.

    For buyers who wish to place offers greater than 100,000 USD/EUR/GBP in any Sedo/GreatDomains Premium Auction Event, they will need to also submit a 1,000 USD/EUR/GBP security deposit.

    I realize these efforts are only pertaining to Sedo/GreatDomains Premium Auction Events, yet I assure you that Sedo is taken more steps to make our marketplace secure. So be on the look out for more updates.

    The suggestions you have mentioned are valid and I will pass them on to the appropriate departments. Requiring a deposit for buyers who wish to place high offers is certainly a good idea and would boost the integrity of the marketplace.

    In regards to the length of time for a standing offer, the period of 7 days is standard as of right now and I do not see a change in the future. On several occasions, I have heard from buyers and sellers alike who saw the waiting offer in the last hours of this time period and were able to respond.

    And lastly, you may cancel an agreement if the buyer has not remitted payment within the allotted time (5 days). You will need to discuss this option with the assigned transfer agent.

    - Carolyn
    Customer Care :: Support.Sedo.com

  5. #5
    Join Date
    Jul 2008
    Posts
    26
    Hi

    What is all that about a legally binding offer part?

    Is it just for show? it seems to me sedo send reminder emails and phone the buyer but if no response the sale is cancelled, how does that constitute a legal agreement?

    If this is a legally binding contract (which it states it is) with Sedo acting as the agent more should be done on the part of the agent than just sending a few emails.

    Taking a deposit would ensure at least the seller is part compensated for the time the domain is out of the marketplace and stop the number of timewasters.

    Does the fake buyers details get passed to the seller so that he can start proceedings to try and enforce the so called legally binding offer?

    Has anything been decided about the deposit idea yet Sedo?

    Regards
    Last edited by ian1965; 2009-07-03 at 03:45 PM.

  6. #6
    Join Date
    Oct 2004
    Location
    Cambridge, MA USA
    Posts
    526
    Hello ian1965,

    Thanks for your post. Offers placed on our marketplace act as a legally binding contract. This policy is mentioned in our "Rules for Domain Buyers":


    "Buyers automatically enter into a legally binding contract to purchase a domain from the seller if their bid is accepted by the seller or if they accept a seller's offer to sell. Give careful consideration when making or accepting offers. Sedo's user agreement requires buyers to pay for the domains that they have committed to purchase. Buyers who refuse to follow through with domain offers that have been accepted by the seller are potentially liable to the Seller for breach of the sales contract to which both are parties. "

    If the transfer has been canceled due to a non-paying buyer, the buyer's Sedo account may be restricted or closed.

    If you have accepted an offer from a buyer and, due to non-payment, the transfer is closed you may request their information from your Transfer Specialist.

    During the transfer process, a dedicated Transfer Specialist will communicate with both parties and may contact the buyer using the contact information presented in the Sedo account.

    We appreciate your suggestions and feedback. As always, we like to hear how we can improve Sedo's user experience.

    Let me know if you have any further questions or concerns.

    Have a wonderful day!

    -Carolyn
    Customer Care :: Support.Sedo.com

  7. #7
    Join Date
    Jul 2008
    Posts
    26
    Hi Carolyn

    Thanks for the reply, it's a shame my transfer agent can't be bothered to reply to my internal message regarding this.

    "If the transfer has been canceled due to a non-paying buyer, the buyer's Sedo account may be restricted or closed." ????? surely this should be done automatically?

    Thanks for your comments though, appreciate it, hopefully my transfer agent will reply personally soon and I can get things moving or cancel the sale and get the domain re listed for sale

    Regards

    -Ian
    Last edited by ian1965; 2009-07-08 at 07:19 AM.

  8. #8
    Join Date
    Oct 2004
    Location
    Cambridge, MA USA
    Posts
    526
    It may take up to two business days for a reply when using the Communication Tool in the Transfer Center of your account.

    A delay may be because the Transfer Specialist is working with the other party.

    If it has taken longer, please send me a PM with the username/domain name and I can look into it for you.

    Happy Thursday!

    -Carolyn
    Customer Care :: Support.Sedo.com

  9. #9
    Join Date
    Jul 2008
    Posts
    26
    Thanks Carolyn

    8 days and no payment and the end of the 2nd business day and no reply from transfer agent regarding question sent using Communication Tool

    Not prepared to wait for you to send 3 reminders to the supposed buyer and phone calls to them, and be in the same position as subg was.

    I would rather just relist the website and hope for a real bidder. Shame as there were 2 other bidders before this timewaster joined in though.

    PM sent with my details, please poke my transfer agent and ask him to cancel the sale and relist as soon as he has woken

    Kind regards
    Ian

  10. #10
    Join Date
    Aug 2003
    Location
    San Diego, CA
    Posts
    2,174
    Originally posted by Sedo
    It may take up to two business days for a reply when using the Communication Tool in the Transfer Center of your account.

    A delay may be because the Transfer Specialist is working with the other party.

    If it has taken longer, please send me a PM with the username/domain name and I can look into it for you.

    Happy Thursday!

    -Carolyn

    Carolyn,

    Which some transactions go very smoothly, others are completely IGNORED but the "agent". I'll PM you an example where the transaction has been ignored by the agent for over 10 days. The buyer was a deadbeat and the agent has IGNORED my request to re-list the domain.

    How can this possibly be OK in a professional organization?
    The only reseller brave enough to post prices: TheNameStore.com

  11. #11
    Join Date
    Oct 2004
    Location
    Cambridge, MA USA
    Posts
    526
    Hi JuniperPark,

    Thank you for your post. I have received your PM and will look into it immediately.

    When using the Transfer Center in your Sedo account to communicate with the Specialist you should expect to receive a response within two business days. However, there may be a delay if the other party is in another time zone or if they have not responded to the Specialist's inquiries in a timely manner.

    Of course if you are concerned about the transfer, you may always let us know and we will look into it on your behalf.

    -Carolyn
    Customer Care :: Support.Sedo.com

  12. #12
    Join Date
    Jul 2008
    Posts
    26
    Hi Carolyn,

    My transfer agent has now been in touch
    Satisfactory ending

    Thanks
    Last edited by ian1965; 2009-07-09 at 06:57 PM.

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