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Domain Discussion
Domain Name News
An installment buyer stopped paying and I’m fine with that
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<blockquote data-quote="DomainsGENERAL.com" data-source="post: 2343250" data-attributes="member: 322978425"><p>Interesting though. Especially as I have myself a domain sold on a 12 months instalment plan (sold through SquadHelp). SH asks for a very first down payment, of it seems 10% of the price, and the rest is spread over 12 month. So initially the buyer has to pay the down payment + the first month, which is 10% + 1/12 of 90% (=7.5%).</p><p></p><p>17.5% at first, then 7.5% per month (which makes the remaining 82.5% over 11 months). There is some interest (8% of the overall price less the initial 10%?) which comes on top of the monthly payments.</p><p></p><p>Anyway, their system is a little more though out than just dividing by 12. The <strong>10% down payment</strong> may mitigate a little what is raised here, and customers stopping to pay quite quickly. Maybe sellers should implement initial down payments for instalments. It's not as good from a customer POV, but it's better from a seller POV.</p><p></p><p>As for what may happen to the domain in the meantime, it is probably more a risk with people potentially getting the domain for nefarious purposes (this could make sense: You want to spam like crazy, or use the domain for something illegal while having a great name? You know this won't last. Get the name on instalments!). With "normal" legitimate users, I would think the risk to be quite low. And the potential consequences not too important. It is hard to who may be who, though.</p><p></p><p>The real question I guess, is how much "permanent" damage can really be done to a domain? The name stays the name. Blacklistings and such can probably be worked out with some time and efforts. Even a well known (bad) incident with the website sitting on it could be seen as advertisement and be used afterwards. "'There is no such thing as bad publicity".</p></blockquote><p></p>
[QUOTE="DomainsGENERAL.com, post: 2343250, member: 322978425"] Interesting though. Especially as I have myself a domain sold on a 12 months instalment plan (sold through SquadHelp). SH asks for a very first down payment, of it seems 10% of the price, and the rest is spread over 12 month. So initially the buyer has to pay the down payment + the first month, which is 10% + 1/12 of 90% (=7.5%). 17.5% at first, then 7.5% per month (which makes the remaining 82.5% over 11 months). There is some interest (8% of the overall price less the initial 10%?) which comes on top of the monthly payments. Anyway, their system is a little more though out than just dividing by 12. The [B]10% down payment[/B] may mitigate a little what is raised here, and customers stopping to pay quite quickly. Maybe sellers should implement initial down payments for instalments. It's not as good from a customer POV, but it's better from a seller POV. As for what may happen to the domain in the meantime, it is probably more a risk with people potentially getting the domain for nefarious purposes (this could make sense: You want to spam like crazy, or use the domain for something illegal while having a great name? You know this won't last. Get the name on instalments!). With "normal" legitimate users, I would think the risk to be quite low. And the potential consequences not too important. It is hard to who may be who, though. The real question I guess, is how much "permanent" damage can really be done to a domain? The name stays the name. Blacklistings and such can probably be worked out with some time and efforts. Even a well known (bad) incident with the website sitting on it could be seen as advertisement and be used afterwards. "'There is no such thing as bad publicity". [/QUOTE]
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An installment buyer stopped paying and I’m fine with that
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