Warning about Certified Offer service

izoot · Jun 14, 2004

Hi Folks..I want to pass along my recent experience with this new NSI
Certified offer service.

This is a completely flawed system. I received and accepted an offer ...
the process was set in motion. I recieved a notice the other day that
the transfer from Fab to NSI failed. Which after contacting Fab I found
that I needed to manually had to approve the transfer ( I was never notified
from Fab ... as I never transfered a name out from there I wasn't aware of
the manual approval )...

Anyhow ... you would think that would be no big deal. IN any other sale it
wouldn't be a problem but I contacted NSI and asked them to please reinitiate
the transfer and I would approve and all would be well. They said no ... they wouldn't reiniate transfer ... the buyer needs to start all over and pay $19 again.

I said please contact the buyer as all they recieved was a notice saying transfer was rejected and it looks like I backed out on the deal ... which
makes me look like a jerk and gives them no incentive to start the process
again or eve ncontact me directly. I said I would even pay the $19 fee.

Their response was sorry we can't do that the deal is dead ... its an automated
system that can't be done like that. They told me they have no way to access buyer info to contact them anyhow as its a closed process ... BUT they will pass this info along for later consideraton. Amzing how they could leave out provisions for problems like this ... a simple fix..but they say they have no way to fix it. This is yet another scam service NSI has come up with to milk their customers money ...

These idiots cost me $2k and potentially my reputation ... and it cost the buyer
$20 and a name they obviously wanted. This is a flawed screwed up system ... if you get offers make sure the transfer goes through and follow closely. NSI doesn't care at all about the well being of either party they are working with.

::::seething:::: I need a drink! Sorry for the rant.

izoot · Jun 14, 2004

Just an aside...as long as you make sure the transfer goes through there probably won't be a problem. But the problem is that sheeet does happen ... it happened to me. Humans err and computers err...They as acting broker should have something in place to account for and deal with these potential problems.

As it stand they don't and as it was explained to me there is nothing in place to protect buyer or seller from what happened to me ... so just follow the deal closely. I have to accept some of the blame here, I should have known Fabs transfer out policy. BUT NSI should have allowed the transfer to be reinitiated...they don't and killed the deal instead.

Just bad corporate business practices here ... You would think NSI would have a clue how to be a broker.

David G · Jun 14, 2004

I tried it for the first time and offered $200 on a name which is likely not worth much more than a few hundred $, and a name which does not even resolve.

Evey day for 6 straight days I get an email from NetSol saying no response or counter-offer received. It seems odd the owner woud not at least make a higher counter-offer.

Sometimes I wonder if NetSol is really contacting them or perhaps the Admin email address may even be bad and since NetSol is involved they do not realize it?

Am getting tempted to pay the $19 and try it on a name I already own just to see the process involved and if they really send emails every day. Please let us know if anyone does that as a test.

izoot · Jun 14, 2004

Well they definately contacted me and the deal was done..price agreed on.

They offered $1000, I countered with $2000 and they accepted all went fine til transfer. ( that was my fault...I didn't know I had to manually approve from the site...Fab..failsafe thing as explained to me...no email sent to me).

Not a serious problem...it could have been solve with little or no effort by just reinitiating transfer and my approving. Instead, they killed the deal and sent a generic explaination to buyer saying transfer was "rejected" ... more or less looking like I renegged on the deal....it said nothing of it just being a mistake. WORST part is they WILL NOT contact buyer to explain the problem, so besides my being out $2k...it makes me look like I backed out.