Recommendations for the sale of a web site

[gnetcon]

I've recently agreed with a buyer to sell my web site. We have agreed on the price. My question is: what's next?

What are the "normal" terms for selling a site? The buyer has requested making 6 payments of equal amount. Should I keep total control until the time that it is paid in full? What is the benefit of using an escrow? How is any income generated by the site handled during that time?

Honestly I'm a newb to this, and would appreciate ANY feedback.

Thanks. :)

[vincevincevince]

I suggest that you advise the buyer to open a banking account in his own name, and make six deposits of equal amounts. When he's finished doing that, wire you the full amount and you'll give him the website, domain, future income and full control.

If he's unable to wait until he has the cash, suggest that he speaks to his bank manager about a loan for the amount. If he is trustworthy enough and in a position strong enough to be given a loan he'll get one; if he is refused then it's a good sign that you shouldn't be giving him that kind of credit line either.

[dbdev]

I concur. Vince is correct.

[gnetcon]

Thanks for the feedback. I appreciate it.