I was in negotiations to sell 3 domain names to different buyers. I think all buyers were from the US.
I reached an agreement with the buyers on all 3 domains but I eventually lost all 3 deals. That was last week. I lost 3 deals for a total of $20k in 3 days from Monday to Wednesday.
The domains were:
- a .com for $6k
- a .org for $4k
- a New gTLD (.works) for $10k
The buyers backed out of the deal in no more than 2 days after the deal was reached.
- She said that her team thought that there were cheaper options in the market.
- He said that his partner didn’t agree on the domain.
- He said that maybe the .works was not the right extension. That is AFTER he was negotiating with me for 2+ years to purchase this .works domain!!!
In one of the deals I had already started the escrow.com transaction. Buyers 1. and 3. went MIA after I agreed to their offer.
Finally, 2 of these idiots had the nerve to then offer me less money than the original deal. .com buyer offered me $2,5k (from $6k) and .works buyer offered me $7k. The .works buyer even played the pandemic trick before we agreed on $10k. Sorry but this never works with me and I told them to get lost.
This is certainly not a first! Buyers back out of deals all the time. But this was too many, too close.
Are you seeing more non-paying buyers or deals not completing during the pandemic? I spoke to a friend and he told that he sees quite a few deals go south and even payment plans near completion are abandoned.
I wrote last month about one of my buyers that wanted to postpone of of his payments. I said no. He finally paid on the last day like he always does.