Buying through Sedo (urgent)

[ian]

Hi all, any chance of an urgent reply.

Considering a purchase of a domain through Sedo; never used them before and just wanted clarification on how safe it is to do so?

The seller of the domain has no rating; does that put me at risk or will Sedo not release funds to them until I've received the domain? If it falls through, will Sedo refund me in full???

 

[davedevelopment]

In my experience, Sedo don't release funds until the domain has been transferred and even then, as the seller I had to remind them a couple of times.

I don't know about the refunds if a deal falls through.

 

[GreyWing]

Complaints against Sedo are that sometimes they are hit and miss on speed, on safety though it is 100% secure. Your money is safe when using them in my opinion.

 

[ian]

Thanks guys, appreciated.

 

[sedo]

As Sedo is the escrow agent for domain transactions, the buyer pays Sedo when an agreement has been made and Sedo sends the payment to the seller when the buyer has control of the domain. We will only send payment once we have confirmation of this. Sedo issues payments using any one of the following methods:

* PayPal (please note that a fee is incurred for amounts above 10,000 EUR)
* Wire transfer
* Direct Deposit (for amounts under 20,000 USD and for US customers only)
* Cheque (US and Canada customers only)

If the seller did not follow through with the sale then you would receive a full refund.

Regarding payments and time taken:

Sedo receives client payments every day. Our bank accounts are checked for incoming wire payments in the morning. Wire payments sent from one account to another within the same country are usually received the same day and processed within two business days. International wire payments can take up to fifteen business days to be completed. The payments are manually checked and matched to the order. Your order will then show as paid.

All PayPal payments received are downloaded once a day in the afternoon. The payments are manually checked and matched to the order. Your order will then show as paid.

Please note that payments are not updated at the weekend (Saturdays and Sundays) as the office is closed.

Kind regards

Joanna

 

[ian]

Thanks Joanna; so a purchase of what seems to be a US based seller would take up to 15 days via bank transfer? Is there a quicker payment method?

 

[sedo]

It won't necessarily take 15 days but it can do. The only other option is Paypal.

 

[ian]

Thanks, can you tell me if payment shown in USD must be transferred in USD, or do you offer a conversion and allow payment in GBP? Just makes a difference between having to go to the bank, or doing it online!!!

 

[sedo]

If a user is based in the UK (and the users address in his account is the same) he will always get a payment request or invoice in GBP.
If the user is not based in UK but wants to pay in GBP then the user needs to make sure on their own that payment received by us matches the USD or EUR amount.

 

[ian]

The seller is from US, but the buyer (me!) is from UK with UK registered account

 

[ian]

Well sadly the domain was an auction and despite my best efforts, I was the runner up! I had a target price but one last push found me compromised by the 10,000 verification of account, which I fully appreciate the reason for being there, I didn't expect to be pushed that far, or hoped not. Never mind

 

[ABCV]

Better luck next time.

BTW which domain was it?