deals that do not go through

[seeker]

after it happening again (an agreement in which the buyer never went through), I wonder if it is appropriate for us to post the names and emails of these people somewhere in DNF?

How does Sedo block these people from not doing it again?
Sedo game me the complete info of the person, and I would like to do something about this.

all thought are welcome.

 

[Bart]

the same happened to me today... I also received their contact details. Address/name/phone all seem legit. I wonder what would happen if I would enforce the contract this time...

 

[seeker]

same here.
in the mean time, I know we all can say that we lost business as once you accept the offer, the domain no longer has a 'for sale' sign, and of course, you cant sell it, but for me it *actually* happened!!!
I actually had received an offer 2 days after from a completely different source and said that its already sold at Sedo.

there doesnt seem to be a pre verification/screening process, and how can sedo stop them?

 

[dotNetKing]

It's been 13 days since sedo invoiced the purchaser for one of my sedo listed domains and no confirmation of payment yet. I hope this doesn't go the same way.

 

[Theo]

The buyer should be able to make offer ONLY with a verified CC.

 

[Mr. Deleted]

The buyer should be able to make offer ONLY with a verified CC.

But what if the amount was more then his card would allow? There are cards that have either a per-day, or a per transation max.

 

[pelican]

i suspect. it is the same fake member who does this. and probably offering all those domains the same $$$$

anyway, i also got an offer for a domain at a high price on 22 june and sedo invoiced that person. perhaps that fake member is trying to fool around.

i hope that there should be some way to prevent those pranksters to make fake offering.

 

[SedoCoUk]

i suspect. it is the same fake member who does this. and probably offering all those domains the same $$$$

anyway, i also got an offer for a domain at a high price on 22 june and sedo invoiced that person. perhaps that fake member is trying to fool around.

i hope that there should be some way to prevent those pranksters to make fake offering.

Hi All,

I'm sorry to hear about your experiences here. Thank you too for the feedback. The bidding system is one that will evolve over time and we definitely want to weed out fake bidders but we don't want to hurt the chance of getting an offer from a legitimate buyer either.

The idea of using some sort of verification like a cc has been discussed by our marketing team. We've also discussed using some form of a feedback system or going as far as asking for a deposit for some domains. However, we have concerns over whether any of these requirements would cost you guys offers, which we definitely don't want to do. So we're treading carefully here.

I can say that bidders that don't follow through with offers do face suspension. I understand it doesn't make sense to pursue just any buyer that backs out of an agreement but an agreement through our bidding system is a recognized purchase and sales agreement and can be enforced.

I'm just as concerned about this as you are and if you have any specific transfer you'd like me to look into send me a pm or an email. I'll be happy to follow up with you on it.

Jay
[email protected]

 

[Theo]

Myself waiting on a supposed sale since June 17th. The 30 day window to call the contract null and void is too long and payment should be submittable within 10 business days instead.

 

[pelican]

once both buyer/seller agree, it becomes a binding contract.
if the buyer backs out, can we ask for any compensation from the buyer through legal means?

By suspending only their sedo account doesnt mean much since it could be a fake sedo account created for the purpose to make fake bidding.

 

[Theo]

Sedo releases their contact info - provided that it's not bogus you can file a lawsuit for breach of contract. Good luck achieving anything if it's either bogus or if they are located in another country. I agree that Sedo should immediately proceed with implementing strict means of authenticating a bidder.

 

[mark]

although i don't know for sure, i am guessing that sedo looks upon these things as most other types of businesses do in terms of acceptable losses vs. net gains. would be interesting to find out, if if sedo would comment on this, as to what is the approximate percentage of sales that are successfully consumated after a bid is placed vs. failed sales.

 

[Theo]

I don't think you understand: there is a contract that is binding, even if each party does not know who the other is. I just read the guidelines and there is a 5 business day window during which payment must be made. I fully intend to pursuit legal action against the buyer, if payment is not received by the 27th, 10 business days since the deal was closed.

 

[mark]

of course you have the right to pursue the guy or gal who is failing to follow thru with their offer to you; if they are a repeat offender so to speak, legal action should put a stop or maybe slow down that type of behavior. what i was referring to is my guess that sedo's procedures regarding any program they have, or don't have forr qualifying bidders is probably based upon sedo's actual experiences overall; that is why i think it would be interesting to hear their percentage numbers on success vs. failure after offers are submitted. of course your sale, as any other sale, is important. here's hoping that it has only been delayed, not cancelled by the buyer.

 

[pelican]

I don't think you understand: there is a contract that is binding, even if each party does not know who the other is. I just read the guidelines and there is a 5 business day window during which payment must be made. I fully intend to pursuit legal action against the buyer, if payment is not received by the 27th, 10 business days since the deal was closed.

If the prankster intend to play prank, most likely the contacts are fake.


I feel that, if sale transaction is above maybe $2000, sedo should verify the deal by phone. I dont it is reasonable for sedo to do that since they are earning 10% of the commission. Having commission over $200 surely worth their effort to phone verify or whatever identity verification.

 

[seeker]

it would help if sedo goes after a few of these people instead of us.
that would limit fake buyers from using sedo.
I would also be very interested in the % of failed transactions in relation to the successful ones, but I think it is difficult for Sedo to release that data.

 

[Theo]

Sedo would not disclose such data. Already they are taking in 10% of the sales price, which is quite a chunk. I've sold many domains with my own personal contact form, and only 3 sales so far with Sedo. Most of my big sales were made by direct contact & using Escrow.com