I had a deal fall through on GoDaddy this week. To keep it short, a prospective buyer made an offer to buy a domain name via GoDaddy, and I accepted the offer. The domain name was listed for sale on Afternic, and the offer was above the minimum offer amount I set but below the BIN price. I told the broker I would accept the deal if the buyer paid “right away.”
Typically, I have found that buyers pay right away, particularly when they are dealing directly with a GoDaddy broker. For whatever reason, I haven’t had many defaults on GoDaddy domain name sales. I don’t have a significant enough volume of business to suggest this is the case across the board.
By the third day of seeing the domain name in an “on hold” status without the buyer paying, I reached out to GoDaddy to let them know I wanted to cancel the deal if the buyer had not yet paid. At the time I agreed to sell the domain name for the offer, I specifically told the broker that I would agree if the buyer paid “right away,” and three days later does not count as right away for me.