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An installment buyer stopped paying and I’m fine with that
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<blockquote data-quote="amplify" data-source="post: 2343225" data-attributes="member: 130638"><p>Andrew Allemann reported that <a href="https://domainnamewire.com/2021/07/30/an-installment-buyer-stopped-paying-and-im-fine-with-that/" target="_blank">he had a buyer</a> for one of his domain names. The BIN was set at $3288, but he allowed for payments of $150 per month over 24 months. The buyer chose the latter and started the payment plan.</p><p></p><p>After the buyer completed the two-year payment plan, the domain name would then be theirs. However, they only made 4 payments.</p><p></p><p>Andrew stated that he was fine with it as it took the domain name off the market for 4 months and still let him keep $600.</p><p></p><p>This got me—and another commenter—thinking about what had just happened.</p><p></p><p>The buyer got ahold of the domain and had control of it for 4 months. Over that time, it doesn't seem to have done anything, archivable, with it. Though, there could be an unseen toll done to the domain: It could have been used in other manners that got it all sorts of blacklisted. Hopefully, that's not the case.</p><p></p><p>This all should be thought out when establishing the price and term for installments. While you can still keep the domain name if a buyer fails to complete the payment plan, what they do with the domain in the meantime can have an adverse effect on the domain that could make it undesirable in the future.</p><p></p><p>If you're going to sell your domains in installments, be sure to price in the worst-case scenario.</p><p></p><p>I personally would have suggested a 1-year $300 payment plan. This figure is between a family plan for a mobile carrier and the monthly payment on a 5-year loan for a new sedan. What I'm trying to say with that, is that it's in a comfortable region for most people to pay.</p><p></p><p>Do you accept payments for your domains and how do you price your monthly installments?</p></blockquote><p></p>
[QUOTE="amplify, post: 2343225, member: 130638"] Andrew Allemann reported that [URL='https://domainnamewire.com/2021/07/30/an-installment-buyer-stopped-paying-and-im-fine-with-that/']he had a buyer[/URL] for one of his domain names. The BIN was set at $3288, but he allowed for payments of $150 per month over 24 months. The buyer chose the latter and started the payment plan. After the buyer completed the two-year payment plan, the domain name would then be theirs. However, they only made 4 payments. Andrew stated that he was fine with it as it took the domain name off the market for 4 months and still let him keep $600. This got me—and another commenter—thinking about what had just happened. The buyer got ahold of the domain and had control of it for 4 months. Over that time, it doesn't seem to have done anything, archivable, with it. Though, there could be an unseen toll done to the domain: It could have been used in other manners that got it all sorts of blacklisted. Hopefully, that's not the case. This all should be thought out when establishing the price and term for installments. While you can still keep the domain name if a buyer fails to complete the payment plan, what they do with the domain in the meantime can have an adverse effect on the domain that could make it undesirable in the future. If you're going to sell your domains in installments, be sure to price in the worst-case scenario. I personally would have suggested a 1-year $300 payment plan. This figure is between a family plan for a mobile carrier and the monthly payment on a 5-year loan for a new sedan. What I'm trying to say with that, is that it's in a comfortable region for most people to pay. Do you accept payments for your domains and how do you price your monthly installments? [/QUOTE]
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