What not to do when you’re making an offer on a domain name

domain-negotiations

Every once and a while a potential buyer does something that’s a bit of a head scratcher. At the end of the day things like this don’t bug me too much, but I do think it’s annoying and a waste of my time and theirs. I know there are a lot of startup founders and entrepreneurs that read my blog who are looking to buy a domain name so hopefully this can be useful to you as a lesson of what not to do.

Yesterday someone reached out to buy a domain name from me. We went back and forth and settled on a price. I started the transaction on Escrow.com, seemed like a pretty normal domain deal to me.

This morning he emailed and said, “I checked with my partner and it turns out he doesn’t want to spend any money on this domain, sorry for wasting your time.”

While this didn’t waste much time, honestly the whole thing probably took up around 5 minutes of my day, it is annoying and it certainly makes me thing, well if they come back in the future I probably wouldn’t want to go back down to the price we had agreed on before.

The moral of the story? If you’re making an offer on a domain name, make sure you actually want to buy the domain, it seems simple but since this isn’t the first time this has happened to me I can tell you that it’s not something that goes through everyone’s mind.

Has this ever happened to you? Or have you ever done this to someone? I want to hear from you, comment and let your voice be heard!

{ 8 comments… add one }

  • Snoopy January 18, 2019, 9:38 pm

    “The moral of the story? If you’re making an offer on a domain name, make sure you actually want to buy the domain“.

    How is that the moral? People change their minds all the time. The moral is probably that it is not a sale until you get the money!

    Reply
    • JZ January 19, 2019, 11:24 am

      Its definitely a lack of professionalism.

      Reply
  • Den January 19, 2019, 12:38 am

    What is bettet for you : binand escrow or negotiate thr price ? i’m reveiving 5 offers per months on a bin basis, when i changed to make offer , the offers stopped coming

    Reply
    • ANTHONY January 19, 2019, 7:06 pm

      Funny, I had BIN for 1 full year and no offers. Two days after changing to make-offer on all my names, I got a sale. BIN was the worst thing I did. MO sets up negotiations.

      Reply
  • Alan Dodd January 19, 2019, 4:55 am

    Morgan it sounds like you could have clear invitation to treat, offer and acceptance over the domain with this person, and my understanding is that this eMail conversation most definitely forms a binding contract between you and this other person/entity.

    A few years ago George Kirikos went through the escrow.com terms and realised that those terms do not set up a binding contract. I am not sure about the terms there now.

    Undeveloped.com the terms are also not binding.

    You therefore need the offer/acceptance by eMail. Your readers should realise that offer/acceptance happening by eMail is potentially binding, although of course most times the other party will not enforce their rights.

    Reply
  • George in Miami January 19, 2019, 10:19 am

    I’m quite surprised.
    I personally, when that happen, take it as part of the game
    and reacting like when you’re inline at the post office: Next!

    Reply
  • BullS January 19, 2019, 2:54 pm

    The game is not over until it is OVER!!
    People change their minds all the time just like changing their underwear.

    Reply
    • Fat Anon January 21, 2019, 2:03 am

      My mom never does that. I mean, never changes her mind.

      Reply

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