It is not easy to sell property, especially if it is not a physical location that can be found on Google Maps, like a website.
If you are trying to buy or sell a website, remember that it is quite similar to buying a home. You may not realize there are issues with the foundation until after you have become the new owner. Whether the site in question is worth $500 or $5M, you should be very cautious before signing on the dotted line.
Sellers need to clean things up, make the site marketable and create a solid listing. Buyers should make sure that they have done their homework and there are no issues before they commit to a sale.
I will give you five transaction tips and five concerning valuation. You can add to the categories here, or you can come up with more on your own.
Transaction Tips for Buying a Site
- Hire A Lawyer
You should always require a signed, written contract so your interests are protected. Every owner on the seller’s side must sign this. If you are buying from a company or buying the site from a business for sale you will need to get the signatures of all officers.
- Obtain A Chain Of Clear Title
If more than one person has owned the domain, you will need to make sure that each sale was legitimate. Great property changes hands from time to time. An attorney can help you keep track of all this information. You do not want to make the site into a goldmine and one of the previous owners swoops in and claims it as their own.
- Make Sure You Get A Clean Title
For The Site Content The attorney you hire should include this as part of the sales contract. The seller needs to provide you with a copyright for all the content.
- Use An Escrow Agent
An escrow agent will hold on to all money until all of the conditions you have requested are met.
- Never Seal The Deal Until Your Name Is On The Domain
It must show up when searched on Whois. You must also have passwords for the hosting, ftp and control panel.
- Is the domain sexy?
- Does it contain useful content? Is it linkable? Will you be the full owner?
- Are there a good number of backlinks? Are they relevant to the theme?
- Will the backlinks remain once the deal is completed?
- How much income does the site generate? What is the rate of conversion? Do you believe that you can give it a boost?
Now its your turn. It should not be that difficult to add ten tips of your own.