GoDaddy user reviews : Recommend I use GoDaddy?? When Selling a Full Website, What is the Legal Process?

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I am just now getting into the "selling" portion of the industry and was curious to know tha legal exchange process. We are about to sell off some social networking websites that are fully developed, and though we feel that selling will be simple we don't know the legal process for the exchange to take place since these will be our first for the sales board.

Any advice?..

Comments (6)

I came across this exact problem when I sold my social site.

How do you work out a secure exchange when trading 2 parts for 1? Ie. Domain(s) AND site for ONE sum of money. Especially when the buyer lives in Germany, and I live in the US.

Its a very tricky situation that I was completely uncomfortable with the entire time.

In the end we just agreed to use Moneybookers for the escrow, and MBs ensured me that as long as I had documented proof of the exchange, then I'd be safe.

I guess the ideal situation is to find a buyer who at least lives in the same country as you and write up a contract.

I think Sedo offers escrow for website sales, but someone told me they charge a 50% commission? That seems crazy, and I can't find an actual figure on their site...

Comment #1

EXACTLY, it seems very uncomfortable. Thanks for the advice, I will cross my fingers and maybe I can find a buyer in the US. That would be the day.

Thanks again!..

Comment #2

You can be creative too. With people I don't trust I have taken payment and kept domain in my account. You could point DNS to their server and give them the site files but wait an agreed time before you give up domain to ensure payment is secure...

Comment #3

I really like that idea alot. As a matter of fact, that is just what I will do. I think by doing what you mentioned as well as simple contract should keep things inline very well...

Comment #4

I doubt any good buyer would agree to that. remember that the buyer also does not know you very well and does not trust you.

Therefore, I dont think that will work..

Comment #5

I just want something streamline and solid (simple exchange) this being our first for selling websites makes it hard. I don't want to make a mistake and ruin or bog down the sale etc. you know what I mean..? What is the standard method?..

Comment #6

This question was taken from a support group/message board and re-posted here so others can learn from it.


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