Plan for Domain name / web site purchase

[beavis]

I have found a website at xyz.com that is in my field. The owner of the site has not updated it in years, but it does have content and more importantly traffic that would be of value to me. I am familiar with the site and industry and believe his traffic stats are legit. Therefore, I am trying to purchase the domain name and all html content, graphics, etc.

Here is what I am thinking:

1. Sign a written contract that he is selling me the domain name and content (“web site”). Included in the contract are stipulations that there is no lien against the web site, he is the owner and he will not put up a competing web site for x years.

2. Establish an account with escrow.com.

3. Deposit my $.

4. Wait until the domain name transfers. I will have him transfer it to the registrar I use for my other names. When it is transferred into my account and my name is on the WhoIs and I am the only one with the administrative user name and pwd to my account, I will assume there is no way he can “take it back” and I will release payment. I will inform him that he will likely have to provide a notarized statement to his registrar to initiate the ownership transfer.

5. The site content is simple and I will download it from the site or his webmaster will send me a CD-ROM.

6. I will likely keep the site hosting at his host. Therefore, he will need to supply me the user name and pwd at his host and I will change the billing info and take over the account.

7. I am done!

Can anyone see any pitfalls to this approach?

[davezan]

Overall, you've got everything well-planned out. :)

Just 2 suggestions:

1. Try using a registrar that has an "escrow" service.

2. Stick with the hosting company you're comfy with...unless you know the one the website's
currently using.