60 days lock period of GoDaddy resulted in canceling the deal of my first hyphenated domain

60-days-lock-period-of-GoDaddy-resulted-in-canceling-the-deal-of-my-first-hyphenated-domainHello everyone,

I won’t blame GoDaddy for that and instead accept my mistake. Although this 60 days lock period is quite frustrating when the buyer asks for transfer out of GoDaddy. So today I would like to share one of the incident happened with me.

It was a .com hyphenated domain for which I contacted several companies and one of them asked the price. I responded back with US$2,000. Keep in mind that I don’t usually start by giving the price first but in this case I was in hurry to make the sale and asked for 2k which was fairly reasonable for a hyphenated domain. The buyer immediately accepted my offer and we initiated the process at Escrow.com with seller paying the fee completely.

The owner of the company asked me to wait until next couple of days as Director of IT will be in touch with me completing the transfer process. Once the payment was approved and I asked their GoDaddy customer# and email address.

The owner strictly said we don’t use GoDaddy as our primary registrar anymore and currently using Network Solutions. I tried to get the authorization code from GoDaddy but it was locked for transfer out and I was unable to retrieve the auth code until next one month. I informed them the situation and I received unfriendly message “We are recalling the money from Escrow.com and once the lock period is over you may contact us. Otherwise we are NOT interested.”

It was quite frustrating to see the funds going back and I was unable to do anything from my end. However, another bad news was yet to come which I wasn’t aware of. So once the lock period was off I contacted them again. This time they preferred to split the Escrow.com fees in half way between buyer and seller. I happily agreed because last time they paid full Escrow fee and deal was cancelled so they didn’t want to risk this time. I created the transaction once again with split fee but they didn’t responded even after Escrow sent them auto reminder. I contacted them to see if they need some more time to make payment.

Their reply wasn’t pleasing for me saying that after several discussions with our SEO consultants we’ve decided not to proceed with this domain name purchase. You may cancel the transaction at Escrow.com.

I admit it was my mistake not to check the status of domain at GoDaddy because recently I had brought the domain from another registrar. Lesson learned is never try to sell the domain if it’s locked and you are somehow unable to transfer to the desired registrar of domain buyer. Or you can at least inform the buyer that you will only be able to push this domain at same registrar (can give the exact reason anything you wish to). Make sure you inform them in the beginning so there won’t be any trouble like I faced in this deal which was at the end remained a sad story…

Have you faced anything like that before? Had any deal going out of your mouth ? 😀 Please share and don’t hesitate

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9 Responses to “60 days lock period of GoDaddy resulted in canceling the deal of my first hyphenated domain”

  1. That was really too bad. Too many rules detrimental to business sometimes. Thanks for sharing, even tho it’s a sad one. At least some lessons there.

  2. Jen says:

    You are doing so well with your sales overall that this might just be a blessing in disguise.

    Btw, I love your post graphics. Care to share more info about them. The sad face is so adorable.

  3. AbdulBasit says:

    Thanks Jen. I just try to put the graphics which are related to the post and good to see you like them 🙂

  4. hi, i just want to selling the backorder domain (60days transfer lock) on flippa. but i was wondering if there no problem when i push domain to the same registrar? in this case, godaddy. thanks

    • AbdulBasit says:

      Feel free to sell that domain if you are going to push the domain under different account of same registrar (GoDaddy).

      Good luck Tito and thanks for commenting 🙂

  5. […] 60 days lock period of GoDaddy resulted in canceling the deal of my first hyphenated domain […]

  6. 101domain has a 60 lock too.

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