Flippa post auction opinions wanted...

6 replies
Any thoughts on milestone escrows?


Price of the listing closed at $14k...

REALLY do not want to sell the website on this buyer's terms. I initiated Escrow.com and got these terms back from the buyer which seems completely insane to me..

1)Wants to fund with escrow milestones over time

2)At 20% funded - transfer of customer database and website into buyers administration.

3)more milestones...

4) At 70% wants - A 6 week operation period (starts from date fulfilment centre receipts goods) to demonstrate that the site can maintain traffic and sales consistent with the information disclosed in the sale



This sound normal???


Are my demands out of line?


1)Past performance is not indicative of future results

2) I maintain control of everything until escrow is fully funded

3) At full escrow seller will transfer everything to buyers control

4) Buyer has 7 days inspection period to verify all claims

5) Seller will be available for 30 days post receipt of escrow funds to assist buyer with questions regarding business
#auction #flippa #opinions #post #wanted
  • Profile picture of the author onegoodman
    These terms are way off normal, refuse it and ask him for more reasonable one ( through flippa messages) , you can confirm revenue through past performance, not your responsibility if the site make money or not in a month or so, u don't own the site.

    If you transfer, make sure domain first after x % and content after x % or close to the total.

    I would recommend have a written paper contract scanned and mailed back to him before initiate the sale signed by both party and confirm upon completion of the escrow transaction x,y, and z to be transferred and sale is final for that price ( a lot of template available online )
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  • Profile picture of the author mrdeflation
    Just don't see how any buyer can request that seller transfer everything over until escrow is fully funded.
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  • Profile picture of the author andrewkar
    Well,

    What you mean by YOU got "terms back from buyer"?

    If you are the seller, YOU are the one who make terms, right?

    So, you have 14K listing out there, would you like to share a URL so I can take a look at it? I'm active buyer and seller of online properties so maybe together we can make a better deal?

    Let me know.
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    Do what you want to do!
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    • Profile picture of the author mrdeflation
      Originally Posted by andrewkar View Post

      Well,

      What you mean by YOU got "terms back from buyer"?

      If you are the seller, YOU are the one who make terms, right?

      So, you have 14K listing out there, would you like to share a URL so I can take a look at it? I'm active buyer and seller of online properties so maybe together we can make a better deal?

      Let me know.
      Well she wanted to see if I would accept her terms first. I was going to counter but just offended at her terms..LOL

      PMed you the listing and the website
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  • Profile picture of the author vikash_kumar
    These are types of clients who normally have a negative biased towards sellers. It's always good to avoid doing business with these types of clients.
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  • Profile picture of the author sbucciarel
    Banned
    Absolutely not. I would not accept those terms. When I sell a site, it's 100% funded in escrow before I will transfer anything. The buyer had his chance to do due diligence. I wouldn't trust this buyer at all.
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