Hello 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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Hello everyone,
If you see a two word hyphenated domain with huge number of exact searches and high CPC I would still suggest to carefully analyze the domain before you make any final decision. Check the past domain sales of hyphenated domains where you will find the non-hyphenated version have sold for much higher so don’t get fooled by paying higher price thinking you can sell it for big bucks like the non-hyphenated sold in the past.
It’s my experience and I am sure no other expert domainer will disagree at this point. I have been developing some of domains for several years and have been parking as well. Just make sure of one thing as I am talking here about mini sites vs parking your domains. If you have the purpose of selling the domain by developing a mini website and waiting for the offers to come in than you are on wrong path.
