Does SEDO Enforce buying of a domain if Buyer accepted to buy the domain?
Do not have much experience with SEDO, whatever domains I traded in the past have been on the escrow trade and with direct contacts.
This time have a buyer that accepted the offer but the process is not moving forward. Wondering if the buyer changed his mind and wants to cancel the agreement. What is the SEDO Policy for a buyer who agrees to buy a domain and neglects to finalize the agreement?
I am the seller and just want to know how realistic is for people to bid, agree to buy and finalize the deal via SEDO.
It is not yet close to 6 days and while the buyer was active first day raising bid 3 times, he is not reacting now that we agreed on a price.
No big deal anyway (it is just a 80K€ domain ), just wondering what the policy is in this case. Especially since the SEDO Section says: "Current Status: Domain sold. Transfer in progress.", making it look a safe thing for the seller
Checked the link you provided earlier but did not find something explicit.
Thanks for the post though.
Last edited by DomainNameAL; 01-02-2014 at 11:23 AM.
It can be frustrating as a seller and may not go as quickly as you expect. You can't count on it until the buyer sends the money. I sold a domain through Afternic where the buyer waited over 2 weeks before mailing a check - so it was almost a month before the transfer went through.
This is pretty much what happens in this cases...
Transaction cancelled by Sedo
Sedo had to cancel the transaction because the buyer made an unintended or fake bid. The buyer has been warned and action against him has been taken. You might want to take a legal action against the buyer, therefore we have made his contact data available in your Sedo contract.
The suspension of the transfer in no way affects the Purchase & Sales Agreement between the seller and the buyer. Sedo will place the transfer on hold for as long as is necessary for you to complete this transaction.