Fishy domain sale/purchase - plse help!

Status
Not open for further replies.

Atco

Level 1
Joined
Aug 23, 2012
Messages
10
Reaction score
0
Feedback: 0 / 0 / 0
It implies that you didn't read the FAQ.

Sorry I think I missed sthng here.. What do you mean? Of course I know that the seller doesn't have the legal right to do so. Just as a thief has no legal rights to a crime.

Not to mention that I sense a buyer's remorse here.

Haha - hope you're right. Here in the UK we have a 7 day "cool-off" period which I think is called buyer's remorse law in the US and is 3 days. But I think it's difficult to apply these for domain name sales, where sellers are often in another country, and can disappear with you money in a blink.

But I like what you're saying.
 

Atco

Level 1
Joined
Aug 23, 2012
Messages
10
Reaction score
0
Feedback: 0 / 0 / 0
Due diligence is performed before an agreement is reached. But you can always terminate Escrow at your expense (not sure what the FAQ states).

Yes I did my due diligence, called the Seller too. But it was way before the fishy updates and new people appearing on the scene. So I need to run a second round of due diligence now, but this time I'm more thorough.

Having said that, I'm starting to have good feelings about this. I reached the previous owner's numbers, he confirmed his consent. In fact it's a family business, and the seller seems to be from a large Muslim country, where I think last minute changes and bullying is part of the business flavour :)
 

Raider

Level 9
Joined
Aug 8, 2006
Messages
4,265
Reaction score
201
Feedback: 15 / 0 / 0
Escrow.com is cooperative, they'll not release the monies until everything is confirmed.

Not everything.. They release funds even when buyer does not follow up and confirm he received the domain.. 7 business days from date of inspection period is when funds are released.

I think you'd be surprised at how many buyers choose not to complete this step after receiving the domain.
 

JuniperPark

Level 9
Joined
Aug 3, 2003
Messages
2,911
Reaction score
90
Feedback: 198 / 0 / 0
I can confirm this as true.

Not everything.. They release funds even when buyer does not follow up and confirm he received the domain.. 7 business days from date of inspection period is when funds are released.

I think you'd be surprised at how many buyers choose not to complete this step after receiving the domain.
 
Status
Not open for further replies.
Top Bottom