This may very well be one of the less glamorous aspects when it comes to buying and selling online businesses, but ensuring there’s clarity on both the buy and sell side is the best way to avoid losing the deal. (And problems down the road) Most problem deals come down to a misunderstanding by one or more parties, so it’s important to get this right.
In this episode of the Web Equity Show, Justin and Ace dive into contracts, agreements, and how to make sure everyone’s on the same page from the first offer through closing and beyond. We’ll get into things like negotations, escrow, due diligence, terms, and training agreements.
Serious points of interest here if you’re looking to buy or sell an online business.
Listen To The Full Interview:
What You’ll Learn From This Episode:
- Understanding buyer and seller agreements in terms of clarity, getting the deal done, and post sale support
- Negotiating the sale price when buying a website
- Understanding all the parties (from both the buyer and seller’s perspective) and agents that might be involved
- Pros and cons in using Escrow when buying/selling online businesses
- Discussing the process when it comes to due diligence and closing the deal
- Talking about terms
- Training or on-going support after the deal is done
- Post deal consideration that both buyer and seller need to be aware of
- Being specific about all the different aspects of the agreement
Featured On The Show:
- Justin Gilchrist over at FlipFilter – Tools to buy and sell Websites, Domain and Mobile Apps
- Justin Gilchrist @ Centurica – Website Assessments and Due Diligence Services