How long should I wait for payment on a forum sale

[Mediamarket]

How long is the generally accepted waiting period from when a potential buyer accepts an offer on DNF to when he/she should pay?

In this case I haven't had further communication or response from the buyer since they accepted escrow and it has been 5 days. I am sure it will work out and I am ok waiting but there was serious interest in the name so I want to sell to another interested party of the buyer isn't going to come through.

So as to not break any unwritten rules of forum selling, any advice?

Many thanks

 

[Biggie]

5 days and no communication?

nothing by email, phone, or pm?

no response after 5 business days is reason to cancel a deal imo, if no response from a buyer or seller.

 

[hina]

In this case, if I were you I'd send them an "ultimatum" to proceed a.s.a.p.
Maybe wait another 24 or 48 hours before you sell to other parties.

- It has been five days
- Five days without any response from the buyer just seems... not right

I know some people may need some time to complete the payment, but I think they have to inform the seller regarding their situation.

 

[draggar]

If you're selling I usually like to have payment within 24 hours of the selling agreement but 5 days with no communications either the person is backing out or has had a situation come up.

It also depends on the domain. If it's low demand and a good price then I'd wait months but if it is a high demand domain with several offers, cut your losses.

I agree with hina, though, send them another PM / email etc.. and say you need something (payment etc..) within 24 hours or else you would consider the deal over.

 

[Mediamarket]

Thanks for the comments which are very helpful.

I have requested either an update or payment by tomorrow (the 7th day) or I'll re-list.

Thanks again for the sanity check on what is acceptable timing.