4 {{ upvoteCount | shortNum }}
4 {{ upvoteCount | shortNum }}

Buyer Backed out on Flippa during escrow, what are my rights?

by Vcize
3 replies
I recently sold a website on Flippa. It was my first experience both with flippa and with escrow.com.

After delivering the goods to the buyer, escrow.com has a 7 day "inspection period". I had never heard of this before. During this period, the buyer decided that the time it took to maintain the site, the income it produced, and the problems with the server software were not to his liking, and he was backing out of the sale.

The problems with the server software he was talking about are that one of the modules was out of date and not updated by its owner, and he felt it is a security vulnerability. The module is a bridge that bridges phpbb forums with the wordpress CMS. The module could be removed and these separated if desired.

So, what are my rights here? We used the standard sample contract of sale with Flippa. As I understood it, once the buyer purchases a site on Flippa they are obligated to buy it so long as the seller delivers the site to them. Is that not true? Can they really back out at this late of a stage in the process?
#backed #buyer #escrow #flippa #rights
  • Profile picture of the author sbucciarel
    Banned
    Of course they can. They do it all the time. You're just lucky you used escrow.com so I assume you should be getting your domain back before the money is returned to the buyer. Unless you had a real contract, and not just the flippa implied contract, there's no legal recourse. You can report it to flippa and they may or may not ban the buyer, but since he had concerns about the site, they may not.
    {{ DiscussionBoard.errors[2860440].message }}
  • Profile picture of the author Meharis
    Originally Posted by Vcize View Post

    I recently sold a website on Flippa. It was my first experience both with flippa and with escrow.com.

    After delivering the goods to the buyer, escrow.com has a 7 day "inspection period". I had never heard of this before. During this period, the buyer decided that the time it took to maintain the site, the income it produced, and the problems with the server software were not to his liking, and he was backing out of the sale.

    The problems with the server software he was talking about are that one of the modules was out of date and not updated by its owner, and he felt it is a security vulnerability. The module is a bridge that bridges phpbb forums with the wordpress CMS. The module could be removed and these separated if desired.

    So, what are my rights here? We used the standard sample contract of sale with Flippa. As I understood it, once the buyer purchases a site on Flippa they are obligated to buy it so long as the seller delivers the site to them. Is that not true? Can they really back out at this late of a stage in the process?
    Vcize,
    "Failure Leave Clues"
    In this case you know what went wrong. So, try this:
    1. Fix everything was wrong and check for some more just in case.
    2. Put a little work writing few articles to drive traffic and keep the site for a month or two. Also, will be enough time to let people forget about your site was for sale before.
    3. List it again but with higher price.
    I'm sure you'll be glad the sale went sour.
    Meharis
    {{ DiscussionBoard.errors[2860557].message }}

Trending Topics