Do i have any right on this transaction

[Gerry]

So to say that, if i offer someone for $300 a domain, and he replies wanting $350, but later he decide to take my$300 offer, i have my right not to honour my $300 offer? i just want to make clear this rule and make no offen to anyone. This is just a mere discussion and i am not looking to do anything about that deal, just that i would like to make it clear on situation like that, what is the correct things to do.

A seller turned down my offer. Perhaps a month later he PM'd me and gave me paypal directions for payment. I emailed him back and told him that after a month, I was no longer interested and moved on. I am not sure he liked my response.

I am not sure what business practices that many people use, if they use any standard business practices at all.

That is why when I post an offer or negotiate in private, I typically post Offer good for 24 hours.

 

[bfstay]

So, assuming that is all happen within 24 hours, what is your stand?

 

[Gerry]

So, assuming that is all happen within 24 hours, what is your stand?

Are you asking me as a seller or buyers perspective?

There may be something lost in the translation, but when he mentioned that he had an offer and you needed to beat it, matching the offer is not beating it. Plus, it seems like you got into an "informal" auction with someone else. The name is not sold until all the offers or bids are in and finalized.

Plus, it appears that all of this did not happen within 24 hours.

 

[katherine]

IMO the initial offer from seller is no longer binding because you made a counter-offer instead of seizing the name at BIN (accepting said sales offer).
That's how it works on marketplaces like Sedo also. The seller is then relieved of his moral duty to sell at 'agreed' price (should also mention that the price is valid for X days etc).

One should always pull the trigger if the price is right.

But how convenient that he supposedly got an offer the very next day, especially when the domain had been on sale for a long time. Sounds like BS.
Maybe there are other circumstances that we do not know of, but it now appears to be a problem of trust and ethics.
I would move on.

 

[BiggieBiggie is verified member.]

if i offer someone for $300 a domain, and he replies wanting $350, but later he decide to take my$300 offer, i have my right not to honour my $300 offer?

yes, your obligations end, when the seller replies with a counter offer.


as a counter offer is a rejection of your initial offer.


imo...

 

[Gerry]

yes, your obligations end, when the seller replies with a counter offer.


as a counter offer is a rejection of your initial offer.


imo...

That pretty much sums up my feelings as well. As long as offers and counter offers are going back and forth, negotiations are still on, nothing has been finalized, but that does not mean saying NO to a counter offer made does not entitle that person to later go back and say OK, I'LL TAKE IT and the other person must pay. No is a response, not an obligation.