How Can I Ensure the Property Transfer Goes Smoothly?

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It can be nerve-wracking to enter into an agreement to transfer property with a person you don’t know very well.

If you’re smart, you’ve thoroughly researched the sellerbuyer, and/or property you’re dealing with. You’ve exchanged comments, PMs, and emails—perhaps you’ve even spoken a few times.

In short, you feel like you know the other person, and you’re comfortable doing business with them.

All that remains is to transfer the property and payment. These tips should help you agree on a transfer plan that suits both parties.

  • Consider using Flippa Escrow for the highest level of protection for both parties.

  • Consider using a formal, written contract of sale.

  • If the deal is important to you, consider seeking legal advice.

  • Agree on a transition plan. Here are some options which might work:

    • List all the components of the transfer, attach a payment to each one, and agree on a date on which each element will be transferred to the buyer. Use this staged transfer-and-payment plan to protect both parties.

    • If you’re using PayPal, arrange for the seller to invoice the buyer through the PayPal system as a Goods transaction. The seller then zips up the site files and places them on a CD, which is posted to the buyer using a tracked mail service.

    • Agree to have the seller transfer the domain name to the buyer first, then receive partial payment before transferring the site. This way, both parties have some leverage during the transfer.

  • Change all the login details and passwords after the transaction has been completed.

  • Agree that the seller guarantees to provide at least seven days of support and guidance.

  • Agree on a 24-hour refund policy.

     
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