I'm supposed to invoice the buyer before payment is released??? WTF?

[Gerry]

I have waited three weeks for payment and today this is the notice I find waiting in my transfer account.

Invoice Request
The buyer has submitted payment to our escrow and has requested an invoice including VAT (if applicable). Please create an invoice with the full amount xxxx EUR and upload it as a PDF within the Transfer Documents section or send us the invoice by fax to 617-499-7203.

Kindly note that all sales prices negotiated through the Sedo Domain Marketplace are considered to be the end prices for the Buyer including the VAT valid for the Seller.

Please issue the invoice with the following details:

-
-
-
-


If you pay the Sedo transfer commission, you will receive an invoice from us once the transfer has been completed.[/FONT]

Payment was actually made on 12/4.

Sedo is charging 50 dollars minimum to all domains sold.

Sedo is the one that should be invoicing the buyer.

Why am I having to submit an invoice when the amount I am being paid is less than the amount the name sold for?

Why is sedo not handling this entirely?

 

[DN BROKER]

thats very stupid, im with you on this... sedo is getting paid and should be the one issuing invoice... wtf

 

[INFORG]

It kind of sucks, but it makes sense for Sedo not to do the invoice - they don't want to get all of those 1099's when they didn't receive the full amount.

I can give you a quick, down and dirty invoice sample if you need one (includes a line item for Sedo commissions). pm me.

I think the transaction will go through regardless of whether you send the invoice, but if the buyer wants/needs one, it's the right thing to do.

 

[axeman]

Yes, i sold two domains on there last month, and i was somewhat stumped by the request myself. This should without doubt be SEDO's responsibility.

The one thing that crossed my mind is, having sold a domain to someone in Europe, and one to an Australian, do they get my basic invoice, then make their own with VAT/GST added for the buyer? Therefore making extra commission. HMMM.

I have absolutely no idea how you upload an invoice to them, because I'm a caveman at this stuff.
I just wrote a basic hand written invoice and faxed it, that did the trick i think, i kept asking if they got them, but no reply of course from the SEDO bot.

They either got them or gave up on me!

 

[Gerry]

I've got access to my invoices and can create one.

The issue is not creating or sending an invoice.

I have been with Sedo for nearly five years.

This is a first.

As for 1099's, Sedo is based in Germany and the buyer for this particular domain is in Germany. I will already be presented with a 1099 from Sedo at the end of the year.

I have no idea why sedo wants me to invoice the buyer for the amount sold, and then sedo will send me an altered invoice showing their commission???

Sedo already has all that information and can simply complete the sale without my involvement dealing directly with the buyer.

Oops! Isn't that the Sedo model?

Yes, i sold two domains on there last month, and i was somewhat stumped by the request myself.

Then will this be the new norm?

If so, Sedo sent me all the buyers info that needs to be reflected on the invoice. Yet, Sedo wants me to send it to Sedo?

This makes no sense, delays the process, eliminates no steps, adds more steps, and creates a jam of going back and forth asking for documents.

I can easily send an invoice to the company now that I have all the information of the company but that is not what Sedo wants me to do.

 

[INFORG]

I never send an invoice without the Sedo commission detailed as a line item. When you get your 1099 from Sedo, it is for parking revenue only (I believe), and they certainly don't deduct your commission fees from sales.

I have no idea why sedo wants me to invoice the buyer for the amount sold, and then sedo will send me an altered invoice showing their commission???

Because they want to shift tax liability solely to you and not receive any tax forms from the buyers.

 

[axeman]

Because they want to shift tax liability solely to you and not receive any tax forms from the buyers.

That's a very good point, last week we saw the buyer of oojj.com on here who was being asked to pay by wire instead of Paypal because SEDO suspected the domain may be questionable, ie: maybe stolen.

So SEDO have got this whole thing down pretty good IMO, sell a domain without any fiscal responsibility to the negative whatsoever.

 

[Gerry]

I've already sent the document to my account manager along with many questions.

Also, I just noticed I was being invoiced 50 EUR from the sale.

I knew minimum commission was $50 but there is no conversion from $$ to EUR?

That means I paid over 72 USD in commission and not the minimum 50 USD.

 

[acronym007]

Sedo can do the paperwork, it doesn't matter who does the paperwork. All that matters are the parties involved and the figures. Sedo is just passing the buck IMO. Total hogwash that we have to do this, period.

 

[INFORG]

If all sellers started sending Sedo 1099's every year for fees, they would stop offering it to buyers.

 

[Gerry]

If all sellers started sending Sedo 1099's every year for fees, they would stop offering it to buyers.

A 1099 is required for the US citizen to fill out.

Sending Sedo a 1099 is not the issue here. That is Sedo's task - to send 1099's to its US based customers.

Form 1099 is not even an issue here, period.

The issue is Sedo telling me that I have to send the buyer an invoice. Sedo is the agent in this transaction. They do the invoicing and billing on both sides. If the receiving party requests an invoice, then Sedo should provide this or, minimally, the contract/invoice sent as notice of acceptance to the transaction should suffice.

As the agent, they should be sending the buyer an invoice for totals as well as send me an invoice showing payment, commission paid, and net amount.

In other words, this is already being done!

This has nothing to do with 1099 or bookkeeping on my end as this will ultimately get done and I will ultimately get a 1099 from Sedo.

I guess Sedo just charged me $72 bucks to do their paperwork.

 

[Biggie]

i had a sale a few months ago, where the buyer sent a request for an invoice.

i sent the transfer manager and the buyer a note stating that "they could use the contract that Sedo furnishes as their invoice" and if that wasn't satisfactory, then we can cancel the deal.

the buyer later sent a reply, stating that an invoice wasn't necessary.


da end!


imo...

 

[Gerry]

i had a sale a few months ago, where the buyer sent a request for an invoice.

i sent the transfer manager and the buyer a note stating that "they could use the contract that Sedo furnishes as their invoice" and if that wasn't satisfactory, then we can cancel the deal.

the buyer later sent a reply, stating that an invoice wasn't necessary.


da end!


imo...

Well, that was my first though, even called the agent (message left) to complain about "doing your job for you".

I will provide invoices for one-on-one transactions. But to do this for the privilege of doing business with Sedo?

I had asked my account manager if this is going to be the norm?

I have never been asked by sedo to supply an invoice, had never even heard anyone else mention this, now others are saying they are getting the same thing?

Bottom line, I complied with Sedo's request but have many many questions regarding this whole transaction, including why still, after three weeks, I have not been paid for this sale.

 

[katherine]

Could be a corporate buyer that needs an invoice or purchase order to pass to their accounts department, so that payment be made.

 

[Gerry]

Could be a corporate buyer that needs an invoice or purchase order to pass to their accounts department, so that payment be made.

That can also come from Sedo. The company/entity/person is invoiced by Sedo once the agreed amount is reached.

That initial invoice should be and is sufficient.

I am now told, by my account exec, that I am to pay a minimum fee in the currency of the transaction.

So rather than pay 50 USD, I am paying 50 EUR.

Now, this can not be right.

50 in the agreed upon currency?

So there is no difference in 50/50/50 regarding EUR/USD/GBP?

If that is the case, then everyone should be doing their dealings in USD. The savings in Minimum fees would be enormous. While I would be stuck with paying 50 bucks, folks in Europe and England would be paying 34.34EUR and 30.54GBP.

 

[axeman]

This is really is ridiculous.

If i sell something on eBay, eBay issues an invoice or Paypal etc.

if i sell my classic car at an auction and pay commission, the auction site issues an invoice.

If i sell my house with a real estate agent, they do the paper work.

BUT you sell your domain on SEDO and pay SEDO 10% and have to issue your own invoice!

It's "amateur hour" at best.

 

[dn-101]

Remember Inverse Polish Notation?
Now, this is Deutsche fvcked up modus operandi. They're trying to present themselves as an UK company, nut it just ain't working :smilewinkgrin:

 

[randomo]

Yes, that seems likely. I just got (and fulfilled) a request for an invoice on a Sedo sale; only the second time I've ever had to do that, so I figured it was the buyer's company's requirement.

Could be a corporate buyer that needs an invoice or purchase order to pass to their accounts department, so that payment be made.

 

[Gerry]

моё судно на воздушной подушке полно угрей

 

[mclovin]

I've also had to send an invoice for a Sedo sales too, not a biggie but still a hassle. I agree with the other posters that Sedo does seem to do not much at all. Recently had a domain transfer where it took forever and the money transfer also took a long time (for Sedo to ask verification of transfer from the buyer) - and Sedo didn't really do much as it didn't really handle the transfer via a push. I think I'll probably use a real escrow next time.