what if buyer in sedo not paying?

[tmscheng]

anyone knows what sedo or other bodies will do to sedo names buyer if the buyer fails to pay?

 

[dmyre]

I am wondering the same thing. I had a bidder make an offer, which I accepted over two months ago, but have not heard anything yet. I was shocked because it took over 1 month before the buyer was even invoiced.

It should be a legally binding contract...

 

[fryman04]

Sedo couldn't care less about it, that's why I moved to another better place. Any idiot can go to SEDO, place all kind of crazy bids, and walk away without problems.

 

[Bart]

I'm having the same problem as we speak...
Waited more than 1 month for the payment, but nothing seen yet.
As I don't live too far from Germany (German Law is applicable), I will ask for the details of the "buyer" and sue him.
He signed a binding contract and as far as I know, breach of contract is still illegal...

USTrader

 

[tmscheng]

sedo is not responding to all these threads at all?!

 

[SedoCoUk]

Hello from Sedo,

Upon entering a bid for a domain, the buyer is informed of the following:

"Please note that your bid is a contract. If the seller accepts your offer, you will be entering into a legally binding contract to purchase this domain."

This is repeated in the Bidding Conditions:
"Once you and seller of the domain name agree upon a price and confirm the bid\sale you enter into a legally binding contract".

The Online Contract upon agreement also stipulates:
"The Buyer is also obligated to transfer the full asking price to the Sedo GmbH escrow account, immediately upon receipt of the invoice".

As you can see, we fully inform the buyer of his obligations at all stages of the bidding and sales process.

However, if a buyer refuses to pay, ie. adhere to the contract, Sedo takes the following steps:
- we remind the buyer that payment should follow within 5 working days upon receipt of the invoice
- if payment has not been received (please note that bank transfers can take up to 14 working days if initiated from certain geographical regions for example, Asia) Sedo again reminds the buyer of his obligations and warns him of the possible consequences of breach of contract
- Sedo formally warns the buyer of the implications of breach of contract.
- Sedo will supply the seller with the buyer's data upon request
- Sedo will assist the seller in any way possible should the seller decide to pursue legal action
- Sedo can explain the legal options to the seller and offer some impartial suggestions, however Sedo is not in a position to offer legal advice nor are we attorneys of law.
- Sedo will of course, provide any information necessary to the seller's attorney in the event of a legal proceeding against the buyer.

Breaches of contract are quite rare and while some transactions take more time than others, such delays are often due to factors other than a desire on the buyer's part to cancel a transaction.
We take every possible precaution to ensure a low break-off rate and our transfer agents can be contacted with any queries you may have regarding individual transfers.

Kind Regards,


Nora Cotter
Key Account Manager
_______________________________________________


SEDO.COM :: Buy and Sell Domain Names and Websites


tel +49 (221)-420-758-287 :: fax +49 (212)-202-3951
email: [email protected] :: url: www.sedo.com


_______________________ :: make a name for yourself.

 

[dvdrip]

If buyer doesn't pay you can sue him.
I have had two buyers that didn't pay.

What I want to know is what happens if buyer pays, domain is trasfered to him but he never updates whois. I am still waiting for such a name. Sedo says that they are waiting for the buyer to update whois but they don't tell me for how long.
This particular buyer waited for 1 month before he started the transfer and now it has been two weeks and no update.

What happens now sedo?

 

[mark]

If buyer doesn't pay you can sue him.
I have had two buyers that didn't pay.

What I want to know is what happens if buyer pays, domain is trasfered to him but he never updates whois. I am still waiting for such a name. Sedo says that they are waiting for the buyer to update whois but they don't tell me for how long.
This particular buyer waited for 1 month before he started the transfer and now it has been two weeks and no update.

What happens now sedo?

---------------
Interesting about the failure to transfer. On a different application but regarding the same type of problem here in Texas we dealt with that matter regarding vehicle sales and people who failed to transfer title to their name, and ended up having the police show up at their door with warrants for unpaid tickets, etc. generated by the new owner. It is now an option when you sell a vehicle in the state for the seller to officially notify the state of the sale by completing a form and paying a small fee. After registration of the form you are protected from any further liability, etc. regardless of whether or not the person you sold the vehicle to ever registers it under their name.

Maybe registrars will adopt a similiar policy regarding domains. I for one would be happy to pay a small fee to have it
"on the record" so to speak---and if registrars didn't offer it, I suggest that maybe someone here could start a registry for same; acknowledging that the problem may not be extensive enough for same.

 

[SedoCoUk]

Hello from Sedo,

I am back in the office on Tuesday (Monday is a bank holiday here).
If you email me with the name of the transfer in question, dvdrip, I'll look into the matter and get back to you about it.
Have a good weekend!
Nora from Sedo
[email protected]

 

[URLtrader]

I had a different kind of situation. The buyer paid money , which sedo passed on to me. I gave username and password for domain to sedo who gave it to buyer. The buyer never updated the whois. Even after many months of sale , I am still the registrant as per whois records !!!

I did have an offer in which the buyer did not pay and sedo told me that I could sue the buyer . No Sir, thanks very much. I do not have time for that. Why don,t you guys do it at sedo ?

 

[DeTep]

As far as I experienced-Sedo doesn´t do anything to force the buyer to pay.
They only gave me the buyers adress , in order to contact him or to sue him.

cordially,
Daniel