Thank you NameSlave for your helpful remarks.
My comments are inlined below.
Originally posted by nameslave
Although most deals here are closed within a couple of days or even hours, it's a rule of thumb (and actually a rule of our weekly live auction) that transactions may take up to 72 hours to complete.
I think it boils down to good communication.
If a buyer emails me that (s)he is going to need some extra time, even weeks, I would be glad work with a buyer. Not hearing back for days just seems to be so unacceptable.
Please be reminded that not everyone check their e-mail on an hourly basis and some of our members don't log in every other day. I would not therefore recommend nullifying a sale before that. Of course, when the bidder does not show up after a week, then it would be safe for us to take tougher action.
Personally, I like to get things out of the way within hours. I try very hard to conclude every one of my transactions in a timely and courteous manner, and I think most domainers do the same.
However, I would certainly work with a buyer if (s)he needs extra time. I just find its rude when someone does not care to reply to an email or a PM for days. Don't you think this might be a good time for those that still use smoke-signals or pony-express for conducting domain sales transactions to upgrade to something better/faster?
Moreover, I just don't like to get into an open ended transaction where something (possibly) happens whenever it may. Therefore, I am now beginning to specifiy the time-frame within which the buyer must remit. For example, I now state something like:
Paypal, within 48 hours or
PayPal, 72 hours, etc. By stating it clearly upfront, I hope I am helping the buyer know that timely action on his/her part is part of the deal.
As I said in the beginning of the post, I think it all boils down to responsible and timely communication with fellow domainers at these fora.
I try to give others every possible benefit of doubt, and it usually takes either a complete communication blackout or blatant wrongdoing on someone's part before I would even consider reporting someone.
Thank you for sharing your insight.
I have re-adjusted my trip-settings accordingly.