Legal Question About Non-Selling Seller of Premium Domain

[e-rasta]

What can be done about a non-selling seller?

If a domain is purchased through a premium domain name broker like Sedo, Moniker, or GoDaddy, what can you do if the purchase falls through due to the seller backing out?

This has just happend to me. I purchased a domain from a broker and aparently the seller is now backing out. Are these purchases not binding?

Thanks for the input.

 

[Mediamarket]

If there is a documented offer an acceptance then it is a binding contract, if Escrow was funded then you have consideration and so even more evidence to back the contract.

The trouble is always enforcement of the contract and in most all cases it isn't worth the trouble and costs associated. National contract laws come into play depending where buyer and seller are located.

I've had it happen to me personally as well as names I've been brokering for clients - all said and done it is an unfortunate part of domain buying. I've only pursued one and ended up getting the name through notice of legal action but the rest I've had to just walk away angry.

Good luck