Hey team,
I recently sold a dropshipping site, one of the smaller sites in my portfolio I'm trying to clean out, for about $18500. I was trying to get rid of the site because I didn't have the cycles to take care of it. I had a huge amount of interest, about 1000 views on the listing. It was making about $800 a month in gross, so I was happy with the valuation, which is normal for dropship sites about 20-25x.
So, after two weeks of the auction, the buyer comes in. We go through and get escrow set up and guide him for two weeks, explaining the site, how to run it, what to do, etc. Now, escrow has a seven-day inspection period. One day before it ends, the buyer cancels and says his father is sick and he won't have time to manage it.
Now, I'm sympathetic to problems, but I just spent almost one month with this guy and gave him the secret sauce, tons of documents on how to grow it, information on what to do, etc.
I spoke to Flippa, and they say I have an APA (after-purchase agreement) that includes an inspection period and doesn't have a sick or don't want clause. Basically, if I deliver everything I said, he buys it. There are no refunds unless I lie somewhere, which I did not.
I am obviously not going to sue a guy for 18500 when their father is gravely ill; it is not worth my conscience, time, or money; I would relist.
I wanted to know what anyone else here would do as I have some friends poking me to at least threaten a lawsuit to move the sale along, which I don't think would be worth it.
I recently sold a dropshipping site, one of the smaller sites in my portfolio I'm trying to clean out, for about $18500. I was trying to get rid of the site because I didn't have the cycles to take care of it. I had a huge amount of interest, about 1000 views on the listing. It was making about $800 a month in gross, so I was happy with the valuation, which is normal for dropship sites about 20-25x.
So, after two weeks of the auction, the buyer comes in. We go through and get escrow set up and guide him for two weeks, explaining the site, how to run it, what to do, etc. Now, escrow has a seven-day inspection period. One day before it ends, the buyer cancels and says his father is sick and he won't have time to manage it.
Now, I'm sympathetic to problems, but I just spent almost one month with this guy and gave him the secret sauce, tons of documents on how to grow it, information on what to do, etc.
I spoke to Flippa, and they say I have an APA (after-purchase agreement) that includes an inspection period and doesn't have a sick or don't want clause. Basically, if I deliver everything I said, he buys it. There are no refunds unless I lie somewhere, which I did not.
I am obviously not going to sue a guy for 18500 when their father is gravely ill; it is not worth my conscience, time, or money; I would relist.
I wanted to know what anyone else here would do as I have some friends poking me to at least threaten a lawsuit to move the sale along, which I don't think would be worth it.
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