If the buyer doesn't pay

.co.uk · Jun 18, 2011

Hi all, I've recently been made an offer for a domain via Sedo which I've accepted. It's been a few days now and I was just wondering if the buyer doesn't pay is the agreement really enforceable? They say it'a legally binding agreement but does that mean I'd have to sue the buyer if payment wasn't followed through? It's not a major amount of money so I won't bother chasing it up if it will be left to me to sue the buyer.

Anyone any experience of this?

Edwin · Jun 18, 2011

.co.uk said:
Hi all, I've recently been made an offer for a domain via Sedo which I've accepted. It's been a few days now and I was just wondering if the buyer doesn't pay is the agreement really enforceable? They say it'a legally binding agreement but does that mean I'd have to sue the buyer if payment wasn't followed through? It's not a major amount of money so I won't bother chasing it up if it will be left to me to sue the buyer.

No, it's not enforceable. Or more accurately, it is, but it's 100% up to you to take the legal action so in practice it generally won't be worth it. Sedo will limit themselves to providing the buyer's contact information, if you're lucky!

.co.uk · Jun 18, 2011

That's for that Edwin. Thought as much! No biggy....I'll just sit on it a bit longer!

Bailey · Jun 19, 2011

Yep - Sedo do employ a lot of strong words for their 'Middle-man' stance. But, certainly nothing enforceabale or to my knowledge applied.

websaway · Jun 19, 2011

It happened to me recently and the buyer who failed to pay was

But these are flats in London and the chance of chasing him successfully would be risky.

websaway · Jun 20, 2011

websaway said:
It happened to me recently and the buyer who failed to pay was

But these are flats in London and the chance of chasing him successfully would be risky.

Hi Paulas
I notice you've removed details of the sedo non payer.
Isn't it possible to name and possibly shame hoax buyers from sedo ?

tifosi · Jun 20, 2011

No, it's a worthless contract in those terms. All sedo will do is open up the buyers details, which may or may not be useful. It's up to you to follow it up.

Happened too many times, amongst other issues with sedo, so I didched them over a year ago.

S

websaway · Jun 20, 2011

tifosi said:
No, it's a worthless contract in those terms. All sedo will do is open up the buyers details, which may or may not be useful. It's up to you to follow it up.

Happened too many times, amongst other issues with sedo, so I didched them over a year ago.

S

I posted the name and address of an individual who reneged on a purchase above. but it was removed. Is it sedo or acorn who objected to his details being published.