Wish list for Undeveloped (Dan.com) (1.Viewing)

We need a field where for our acquisition cost so we can track our expenses.

We also need an internal notes field where we can make a note about a domain.

Thanks for starting this Frank *THUMBSUP*

I may have missed it but I can’t see this information anywhere:
Clarification on what happens if someone doesn’t make agreed payments.
How much in arrears can they be before the name is taken back.
I like the idea of payments but don’t want to be in a battle to get my payment or get my domain back.

The domain goes back to the owner and the purchaser loses their payments.

I have to do a bit more research because it is not mentioned in their lease terms...

Here is their blog post but still no definite answer:

https://blog.undeveloped.com/introducing-domain-financing-2-0-cd82edbb79c4

Exactly… I read that as well…I don’t like not knowing where I stand.
It should be clearly stated.

MapleDots said:

Here is their blog post but still no definite answer:

Click to expand...

jaydub said:

Exactly… I read that as well…I don’t like not knowing where I stand.
It should be clearly stated.

Click to expand...

[notify]jaydub[/notify]


They just updated their terms
https://dan.com/terms_of_use


I have to read through it to see if it mentions a lease default when I have time.

Just got that as well.Interestingly most send out well in advance when amending terms of service. They sent it today and it’s effective today.

I guess they're becoming a registrar as well

Interesting

They mentioned this yesterday on twitter too:

jaydub said:

Thanks for starting this Frank *THUMBSUP*

I may have missed it but I can’t see this information anywhere:
Clarification on what happens if someone doesn’t make agreed payments.
How much in arrears can they be before the name is taken back.
I like the idea of payments but don’t want to be in a battle to get my payment or get my domain back.

Click to expand...

Went thru that in this thread - https://dn.ca/topic/968/the-new-dancom-or-just-fluff/

I had that happen where they made 5/6 payments, got my domain back.

Dan the registrar stuff, as expected. With the recent hack of Epik and Dan becoming a registrar, Epik going to take a big hit.

Jonathan Hitchens said:

I think Dan is going to become what people wanted Epik to be.

Dan is moving fast and doing well. I think I read they're also going to become a registrar?.

Click to expand...

[notify]jaydub[/notify]

I see no real risk with doing a payment plan or lease to own and I haven't heard of a single horror story yet, but I understand how you want the specifics. You're certainly not at risk of losing the domain since it's never transferred until full payment is made.

I "assume" you can take the domain back and keep the money if they miss a single deadline but Dan doesn't want to shut down transactions at every possible occasion, especially when they've spoken to the buyer and they've confirmed they'll just need an extra day or two. Dan will try to facilitate things to keep the cash coming in, and probably encourage you to be patient and explain your options, but ultimately it should be up to you if you want to end things right away because of breach of contract. It's possible buyers are given a small grace period though I suppose, like up to 5 days, and maybe even a 1, 2 or 3 strike system for being late.

I do however think that payment plans are best when you're making 1-2K per month for no longer than 12 months, rather than $100 per month for 60 months (for example). People only paying $100 per month might just be testing out your domain, not be very serious, and are much more likely to bail from what I gather.

And as interesting as payment plans are, I'm always still aiming to sell in a single transaction... but on higher priced domains I often set up the instalment option so they can pay it off in 2-6 monthly payments, amounting to somewhere between 1-2K per month. If you keep payments under 2K, buyers can pay using their credit card without any additional fees (and you can accept the funds via paypal without being charged an extra 4% commission).