FAQ - Selling a Canceled Wedding or Honeymoon
Q: How does the canceled wedding brokerage work for the seller?
Thank you for considering our wedding brokerage for your cancelled event.
Our job is to find a new buyer that takes over your cancelled event and assumes your rights
& responsibilities towards your vendors.
The service is free of charge to you and we collect a modest fee from the buyers on successfully fulfilled transaction.
Prospective buyers are motivated by a discount that you assign to your event.
The higher discount you provide, the better chance to find a new buyer you have.
Please understand that this discount is provided by you on your already paid deposits and not by your vendors.
The new buyer pays back to you a part of your deposits (which you would lose anyway) and squares up the balance with vendors.
Vendors don't provide any discount, they keep the same scope of service and the same price that they expected from you for a given date, but instead of serving you they serve a different couple.
This way you have a chance to get at least some of your money back which you would otherwise lose all.
If you decide to place your canceled event on sale with us, please use the online form.
This way your entry goes directly to our central MatchMaker system where we'll try to find a matching buyer for you while protecting your privacy.
If we don’t find a match for your event right away there is no need to worry, because the good news is that new buyers register their search profiles with us every day. So if we don't have a match for you today, we might have it tomorrow.
Please note, the better information you provide us, the better job we can do for you.
Q: What happens after I submit my cancelled wedding profile to you?
After you submit your canceled event in our online form, its profile goes directly to our central MatchMaker system where we'll review it and try to find a matching buyer for you while protecting your privacy.
First we air a CANCELED WEDDING ALERT message on our facebook and twitter providing the public with just basic information while protecting your privacy.
After that we perform our due diligence on your submitted data and try to match a prospective buyer among our registered brides. When we find suitable candidates we notify them via email and provide them with basic information. By this time we also inform you that we got a match.
When a prospective buyer queries us about your event, we provide her with the rest of information that we have available from you, except of your name and the names of your vendors, and we sign a preliminary broker agreement with her and ask you to update your information.
We mediate the exchange of information and negotiation between the prospective buyer and you while protecting your privacy. By this time we also have a broker agreement signed with you.
When an agreement between you and the buyer is reached, the prospective buyer has all the detailed information to be able to make a purchasing decision and we contact respective vendors and execute paperwork with binding debt assumption agreement – the final step.
If the prospective buyer decides to walk away from this opportunity before signing the binding debt assumption agreement, we continue to search for another one. As a matter of fact we search for a prospective buyer for your canceled event all the time, even when we already have a match and negotiations are in progress with prospective buyer.
the economy behind selling a canceled wedding?
The way our wedding brokerage works is that you’re actually selling your contractual rights and responsibilities with your vendors.
A new couple, buyer, takes over your rights and responsibilities by buying out your vendor’s deposit on discount. The buyer pays directly to you and is still obliged to square up the outstanding balance with the respective vendors.
Please note, that it’s you who provides a discount on paid deposits and not the vendors. The only thing that changes for your vendors is your name on the contract.
For example if your originally estimated wedding budget is $27,000 and you have already paid $5,000 deposits, you may decide to sell this deposit for lower price e.g. $2,000 - this way you get a $2,000 back instead of losing the whole $5,000.
Some vendors have steep cancellation policies, so given the situation above you might be also obliged to pay e.g. additional $10,000 to the vendors as a cancellation fee. In this case you might e.g. be willing to eat the whole deposit in order to avoid paying the cancellation penalty. This way you don’t get your deposit back, but you don’t have to reach in to your packet for another $10,000.
In general, the bigger discount you offer, the more likely is there a chance for you to get a new buyer and get some of your money back.
Q: Do I have to sell the whole wedding plan or may I sell e.g. just the venue or photographer?
It’s absolutely up to you what you put on our canceled wedding brokerage market. It might be a single vendor service like a photographer or wedding venue and caterer, where you’re contractually bind to steep cancelation fees and thus you have a strong motivation to re-sell, or you may choose to sell the whole wedding plan.
Since our registered buyers don’t search only for good deals on the whole wedding plan, but they seek also individual wedding services on a good price, the best way is to identify these individual services in our online form while submitting your canceled event to us and make a comment on your priorities. We’ll than try to find a new buyer for the whole package as well as for an individual service.
Q: I've a cancellation deadline with my vendor, should I wait for you?
We're doing our best to help you to re-sell your canceled event, but we can't guarantee to you that we succeed. Finding a suitable and serious buyer isn't easy and it might take a while. You should use your own judgment and if you're facing a vendor cancellation deadline, you risk that your loss will be even higher if your canceled event doesn't re-sell.
We'd recommend to you to notify your vendors and wait with the official cancellation till its deadline. Even when you officially canceled, it's still possible to negotiate with the vendors that your already canceled contract would be acquired by a new couple, because it's usually unlikely that the vendors will themselves find a new couple for that date.