did a shitty thing, backed out of selling website... am i legally obliged?

mrey86

mrey86

New member
Jan 6, 2010
282
2
0
i know it's a shitty thing to do and kinda makes me an asshole

but i had a bid for my website that i had completely forgotten was ongoing and had not set myself a reserve price through flippa

eventually someone won the auction at 2750 when my site makes between 200-400 monthly...

i feel like im under-selling my site but the money has already been sent to my paypal account which i'm going to "refuse" under the order status/actions

but the question im asking is if im legally bound to sell it now?

and no doubt flippa wants it's success fees too.
 


No one is going to force you to give up the website, especially of such a low value. Doesn't mean you're not a dick though. I'd email the guy and tell him the situations and tell him that you're sorry after you refund it. You might get banned from Flippa but that's about it.
 
whats the average?

You got 12 months revenue on flippa. I don't see how that is 'underselling'.
 
website income...

2r5daxd.png
 
mrey86 said:
website income...

2r5daxd.png
Click to expand...

Using rough estimates I got an average of about $320 per month. You said you sold it for $2,750 which means you sold it for 8.5 months revenue. While you could have gotten more, you didn't get ripped off. Take that $2,750 and reinvest it into a few new sites and earn triple that.

Also, read the Flippa TOS. You are contractually obligated to sell that website.
 
The revenue screen you've posted apparently shows only profit? The gross revenue is more than that?

If that's the case, you still round up to getting a minimum of 6 months worth of revenue. As someone already stated, you're by no means getting ripped off.

Take the $2750 and move on.

P.S - And forgetting about an auction is pretty lame. So is not setting a reserve.
 
You may have slightly undersold...but it's by a few hundred dollars. You made the deal, honor it.
 
i know nothing about the law other than you cant drink excessive amounts of alcohol in public unfortunately..

but dont be a dick dude
 
While you're at it, just talk to the seller off flippa and tell him your honest mistake. Let him know that if he can't up his bid he's going to be refunded since you just can't sell it at that price. You could do this and risk losing the sale completely, or possibly get a bit higher if the seller really wants the site.
 
Hello friend,

I no sure if law require sell or not. It may depend on what country from and if you and him in different country then law maybe lot more complex.

However no think he will sue you in court for website since you give him money back. It no like you take money and then no give him website.

But in future I think so should set minimum sell amount to price you want. It bad karma to agree sell something and then no sell because want more money.

Good luck bro
 
It is a breach of contract, but you are unlikely to get sued, although Flippa will ban you.

However, as a matter of integrity, you should man up and honour your word. Seriously, learning to make decisions and stand by the consequences without weaseling out is a quality that will make you a much better (and richer) business person in the end.

That said, if you were really desperate to hold on to it, if it's an SEO site, you could email the buyer, and tell him that according to your rank tracker, it's just got slapped for several major keywords, and you think traffic might be about to tank.

Tell him that in all fairness, you'll give him a chance to back out and refund his monies as you don't want to sell him a pup.
 
You must log in or register to reply here.
Top Bottom
Back