dung beetle

As humans we have numerous amazing abilities, one of these great abilities is imagination… don’t get me wrong, I am not claiming that other animals and insects DON’T have imaginations, I am sure that millions of dung beetles around the world are currently imagining being in a field full of cows who have eaten too much.

So on that note, I want you to remove any images of cows with bowel problems from your mind, and instead, I want you to imagine you are walking down the high street on a rainy Thursday afternoon.

Imagine yourself coming out of the rain and into a clothes store.

You flick around a few of the t-shirts on the “Everything is $35 section”, but your focus is drawn to one of the t-shirt price tags that says $13.

At this point you are a like a child who has found grandpa’s dirty magazine collection, your heart is beating and your palms are getting sweaty… can you feel it?

You take the t-shirt off the rack and spring to the counter to pay for said clothes item.

Don’t make eye contact, stay cool, you think to yourself. But the young lady in the ill-fitting staff uniform notices the in-correctly priced label and tells you that the actual price is $35.

Now at this moment you go from mr cool to Simon Cowell, you say in a loud and arrogant voice that the label shows $13 and therefore it is legally binding that you MUST sell it at that price.

ok, you can stop imagining now. The question here is what is the ACTUAL law on such a scenario? Are they legally required to sell you the product at the advertised price?

Do you want the answer?

Of course you do you handsome reader!

The answer is that they DO NOT have to sell it at the lower price. In fact, they can sell it at any price at anytime. The labels on products are not contracts, they are guides, or offers. They only become contractual once you have paid for them. If it was contractual, then you would HAVE to pay for anything you took off the rack, regardless of whether you liked it or not.

So what has this tidbit of retail gold got to do with buying and selling websites?

Once you scrape away the back stories, imagination explanations, and dung beetle scenarios of this article, you are left with one simple but hugely important nugget of advice: a deal is never done until the payment has been made!

I was contacted recently by a reader who was in talks for a site purchase, he agreed on a price of $25,000 and he got the seller to confirm that it was a done deal numerous times via email. However, the seller sold the site for $40,000 to someone else the day after.

Bear this in mind when buying sites, no deal is ever done until the site has been paid for.

Dean

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