Seller backs out of an Escrow Transaction?

[Yofie]

I had contacted a seller and we went back and forth and finally agreeded upon a price. I suggested we use Escrow.

The seller agreeded to the terms, I made payment and payment cleared. I was waiting and waiting for the push and got an email saying they have recieved a higher offer and go figure, no longer want to sell it to me...

What options do I have?

Secondly another thing to point out, is the listed Admin contact is the person who I delt with, as the Registrant is not listed on whois. Now this person is saying they didn't have Legal Rights to be selling the domain name. This just happened to come up "now" after he agreeded to sell, accepted the terms at Escrow etc.

Please help if you can.

 

[DN BROKER]

I had contacted a seller and we went back and forth and finally agreeded upon a price. I suggested we use Escrow.

The seller agreeded to the terms, I made payment and payment cleared. I was waiting and waiting for the push and got an email saying they have recieved a higher offer and go figure, no longer want to sell it to me...

What options do I have?

Secondly another thing to point out, is the listed Admin contact is the person who I delt with, as the Registrant is not listed on whois. Now this person is saying they didn't have Legal Rights to be selling the domain name. This just happened to come up "now" after he agreeded to sell, accepted the terms at Escrow etc.

Please help if you can.

thats BS, maybe dude was trying to waste your time.. what a loser... which domain is it? do a google search on it and see if any domain sales thread pop up and see if its the same user selling in multiple forums or so... you should be able to get some info if the user is or not the seller... i also have experienced individuals accepting to purchase and then not paying using escrow... there is not much we can do other then exposing the truth on dnforum, etc...

best of luck, keep us updated on the search

 

[WeBuyThe.Com]

Probably not worth chasing it. Deals fall apart all the time; real estate, cars, names. Unless you want get an attorney involved who can scare him into selling but $$$

Good Luck!

 

[DN BROKER]

just try to get his/her real info so we are aware who he/she is....

 

[Yofie]

thats BS, maybe dude was trying to waste your time.. what a loser... which domain is it? do a google search on it and see if any domain sales thread pop up and see if its the same user selling in multiple forums or so... you should be able to get some info if the user is or not the seller... i also have experienced individuals accepting to purchase and then not paying using escrow... there is not much we can do other then exposing the truth on dnforum, etc...

best of luck, keep us updated on the search

The domain was not on a forum. I will not display the domain until I see if I have any legal rights. This is a company that I am dealing with.

 

[Seraphim]

I had contacted a seller and we went back and forth and finally agreeded upon a price. I suggested we use Escrow.

The seller agreeded to the terms, I made payment and payment cleared. I was waiting and waiting for the push and got an email saying they have recieved a higher offer and go figure, no longer want to sell it to me...

What options do I have?

Secondly another thing to point out, is the listed Admin contact is the person who I delt with, as the Registrant is not listed on whois. Now this person is saying they didn't have Legal Rights to be selling the domain name. This just happened to come up "now" after he agreeded to sell, accepted the terms at Escrow etc.

Please help if you can.

This same thing happened to me this year for a mid XX,XXX deal. I was flaming pissed, contacted a lawyer, and nothing happened in the end. Had to move on and accept it's part of the game. Learn from my mistake, count your losses, and move on as fast as possible. Don't dwell on it.

 

[Yofie]

This same thing happened to me this year for a mid XX,XXX deal. I was flaming pissed, contacted a lawyer, and nothing happened in the end. Had to move on and accept it's part of the game. Learn from my mistake, count your losses, and move on as fast as possible. Don't dwell on it.

Thanks for the heads up. I think one more email to the owner of the company will be my last shot.

I will update in a bit.

 

[DNP]

Nothing you can do about it ... Just forget it and enjoy the holiday season!

 

[Yofie]

This is just way to hard to "let it go". Discovering more info as I dig deeper. It's very clear that the person I dealt with Owns the domain, is the owner of the company. He stated to me, he is not the Primary Owner. The Fact is, he is the Primary Owner, the President of the company and set up this story of the domain being sold by somebody else and he can't do anything about it because he's not the primary owner....... :lol:

 

[Johnn]

Don't waste the time - move on...

 

[Seraphim]

This is just way to hard to "let it go". Discovering more info as I dig deeper. It's very clear that the person I dealt with Owns the domain, is the owner of the company. He stated to me, he is not the Primary Owner. The Fact is, he is the Primary Owner, the President of the company and set up this story of the domain being sold by somebody else and he can't do anything about it because he's not the primary owner....... :lol:

Yofie, I lost out on low to mid XXX,XXX in instant equity after a non domainer seller backed out of Escrow on me [was a deal of a life time in fact]. I tried to buy a domain package that was under lease, once my funds hit Escrow, the leasee bid in higher [the guy had developed sites on the names], and the seller knowing he f@cked me, didn't give me a chance to counter bid and sold straight to the leasee [whom he had done business with prior]. The deal soured my perspective for a solid 3 months, and I had trouble letting it go because of the huge money that I would have made. After three months of complaining about it, my wife finally said "don't be one of those people that center their life around lost opportunity", which jolted me back into reality a bit. The quicker you can move on from something like this, the better. I eventually took my funds, and bought into some other really nice names. Would Frank Schilling hang on one sour deal? Very unlikely.

 

[dcristo]

That is really unprofessional from the seller.

The least I would do is make the seller incur the escrow fees, which if I remember correctly, you have to deal with even though they backed out of the deal?

 

[italiandragon]

That is really unprofessional from the seller.

The least I would do is make the seller incur the escrow fees, which if I remember correctly, you have to deal with even though they backed out of the deal?

Only if the provided the bank details I think.

 

[Gramma]

similar happened to me - i was the seller - set price - shot it to a couple buyers - only one got back with me - made me a decent offer and i accepted it. we started escrow THEN the other potential buyer gets with me and offers me 7K more. I stuck with the original deal - it was the right thing to do - but told the buyer about it and he's agreed to cut me in if I forward a higher bidder to him when he's ready to sell. So although i would sure like that 7K - I sleep well at night. I kept my word.
Karma will kick a bunch of welcher azz...

 

[Theo]

"There is nothing you can do for a person whose testicles never descented during puberty."

~Dom Ayn Ing

 

[Raider]

The domain was not on a forum. I will not display the domain until I see if I have any legal rights. This is a company that I am dealing with.

If this is a company that we all know, you should disclose the name so we have a heads up before dealing with them.

 

[DN BROKER]

The domain was not on a forum. I will not display the domain until I see if I have any legal rights. This is a company that I am dealing with.

Your not helping the community by not exposing the company name... what if another domainer makes a deal with them and loses as well?!? If this sale was dropped by the seller, specially a company.. then we all deserve to know who it is? I don't want to take a chance with a company that is practising this type of behaviour. If you don't tell us, then any one of us can fall into their trap as well.... :undecided:

 

[denny007]

If you got this seller via unsolicited email he was just playing you. I play with domain spammers a lot, its fun wasting their time.

 

[italiandragon]

If you got this seller via unsolicited email he was just playing you. I play with domain spammers a lot, its fun wasting their time.

:lol:

 

[BLazeD]

This has happened to me and it hurts. Then you just realize that there are plenty of unscrupulous, lying, PoS people out there on the internet who don't give a crap about integrity and honor. They will get burned sooner or later.

Also I believe you'll get hit with the Escrow fees for the uncompleted transaction too?