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Also included in the sale was 2 undeveloped .com names.
Should I hire someone to help with this transaction, I have no idea what to do exactly!
I just don't give the passwords to my domain and hosting of course right? The info needs to be changed, as well as billing for the new buyer?
What is the best way to receive the funds? I am in the USA and the buyer is in the UK. Do I give them my checking account routing number? I would want to make sure they sent the money first right?
Should I contact a lawyer, what do I do?
I've accepted there bid for my site, but now the next steps are turning the site over, and getting paid the actually money they bid, which I don't even know where to begin, or how to do these.
I have not gone through any 3rd parties so far, just put a "For Sale" sign up on my site's front page, and got emailed offers. Now I'm ready to accept one of the offers, but don't know how to actually make this whole transaction work.
Does anyone know what to do?
They pay, you give them the needed files, passwords,etc.. and Escrow releases the funds to you.
Indicate that you are willing to accept escrow - that puts the onus on them to set it up, if they don't want to pay direct.
But if they don't escrow, then don't move until the cash is safely out of paypal's reach!
Also send an invoice (and later a receipt) saying *exactly* what they were paying for.
But chances are , it will be no problem, so long as you keep your eyes open!
[added:] I'd only really worry if they are offering way above th site's value!
[edited by: Quadrille at 10:41 am (utc) on Aug. 1, 2006]
What you have done is release your "copyright" to them. It is now theirs.
If they go bankrupt, the credit card charge is reversed or charged back to the credit card company. And if it is the 6 month window, it is then charged back to you. They are bankrupt and you can not collect. But they own the site.
You must do this transaction with a "Copyright release" contract clause.
When the cashers check is cashed, then issue a copyright release.
But all credit card transactions allow for a "charge back" for many reasons. And if you give them the site (source), be warned, they will do a "charge back" on you.
And if the Purchaser is in another state, you must go their for any law suit.
And if the Purchaser is in another country, then you are screwed.
As for the domain names, the minute the "whois" information is changed, the domain name is theirs.
If the site is live under the domain name "www.mysite.com" and working, then sell the site "as is". Request a "money order" and then give them the "whois" password.
Otherwise, you will need a contract.
But don't accept a credit card!
But I'm still not sure exactly how to do everything.
I honestly have no idea what I'm doing here....
When you sell a site, and give it to someone else, how do you do it?
I have 3 domain names they are buying from me.
Do I contact whoever I registered the domains with? Then what?
Do I need to contact my host?
How does this work... lol
[edited by: PFOnline at 2:54 pm (utc) on Aug. 1, 2006]
But who is "professional help"?
Who would I talk to about all the aspects of this transaction, including how it's actually done, and how it's done right and safely.
Simply put - both of you open a free escrow account. Then one of you (any one) starts a transaction. Escrow.com sends an email to the other with details of the goods and the price. The other party replies to agree.
Then buyer pays money to escrow. Escrow informs seller that they have secure funds. The seller gives the buyer A) passwords to his domain account with the registrar and B) passwords to his hosting account. Alternatively, the buyer may want his registrar involved in which case his registrar can request your registrar for the domain, your registrar contacts you, you approve. Alternative to giving him access to your hosting account is this: He gives you his IP and FTP access and you setup the site on his server.
Once the buyer has control of the domain he has to instruct escrow to release the funds. Escrow then pays you by bank transfer or cheque.
So the buyer is just going to get the passwords to my domain names and hosting accounts?
Doesn't he need to change the contact info on these, and billing information and such?
Wouldn't he also get all my personal information this way? He will need to take over the payments on the accounts right?
What if he wanted to switch to a different registrar or hosting account?
Lotta questions I know, sorry, lol... :)
Important ones though I think.
While the registrar issue is not that critical it may be better if he uses his own registrar as well.
Hope all the info by sticky helped. I'm off home now :)
Yes, you have to go to your registrar, push the domain to his account after the money has been locked in Escrow. When you push the domain, then he has to accept and funds are released to you. You may request a check or direct deposit...
In my case, we agreed that I would set the website working in his server, so he gave me FTP access and I uploaded everything.
I do recommend doing business with people living in the same country as you.