FORECLOSING on the Property.com Deal with Foreclosure.com

Morning Folks!!

The road to hell is paved with good intentioned people. Everyone generally enters an agreement with honorable intentions. But even the best of intentions lead to failure the great majority of time once lawyers get involved or business heads south. So the contract is the only thing that protects you and if that contract is not rock solid, clear and concise, it is worthless. If the contract does not protect the domain owner from unforeseen peril, it is worthless and eventually you will have a really good chance of losing your domain without the other party fulfilling their obligations. I have seen that happen too many times to count and no way would I become a victim of that. The power to walk away from a bad contract is the greatest power in business.

Our lawyers couldn't agree on terms that would protect the interests of both parties (Especially mine) and so I had to pull the plug on the deal earlier this month. I was not going to sign a contract that did not state EXACTLY the procedure for return of the domain in case of default. That did not have a FAIL SAFE built in like I do on the Candy.com deal. In that deal it was easy to accomplish. It should be easy. In this deal, it sank the ship and I refused to go along for the ride. And why should I?? BYE BYE! NEXT!

So there it is. Unfortunate but may be a blessing in disguise. As you can see we are working hard on Property.com and will be introducing Sub-domains and other long term strategies as we move forward.

Have a GREAT Day!
Rick Schwartz