Avoid Getting Burned On Your Next Website Purchase
Hey Warriors, recently someone had contacted me after getting scammed out of $1,000 for a website he purchased. And I thought I would include some of my recommendations to him to avoid getting scammed in the future.
I know there are a lot of warriors just getting started in the industry and instinctively may look at purchasing a business that is already running, yet not be aware of how to spot someone looking to swindle them out of their money. Or even if you are a pro, a lot of times you can get wrapped up in the moment or deal, and lose sight of common sense.
Just some pointers, if you decide to buy other sites online, because while there are many legitimate sellers there are some scammers.
1. Always use a reliable escrow service, sure it may cost a couple dollars more but it's well worth it, like escrow.com . And if the seller is not willing to use an escrow service, just walk away, because chances are he's trying to scam you.. That said, of course if the websites $100-200 it's not necessary. But I would say anything north of $500+ I would only transact through escrow.
2. Look at the person's prior feedback (if any), research their name online, many times people will utilize the same SN on multiple sites. If they have any feedback of trying to defraud or scam people, don't go through with the deal.
3. Get a first name and address, also look online to see if they are listed and you can verify it. And before sending payment, make sure the name they provided you matches up.
4. Get a phone number or contact of the person, preferably home phone or listed phone number. And speak with them over the phone. You can tell a lot by a person just by talking to them. Again anything for $500+
3. Always get a written contract signed between the two parties, you can find free ones online by searching for "domain sale contract" website sale contract,ect.
4. People sell websites for a profit, despite what their situation is. If they say they are losing their house, dog is sick and needs medical attention,ect. They still are selling things for a profit. Your first clue on his auctions should have been the price. No on NO one would sell a business making even $400 a month for $900. Generally speaking expect to pay between 8-18 months revenue for a site.
5. Always Always, require that you verify stats, income/paypal/ect for sites $300+ through team viewer prior to finalizing a deal and sending money. Again if they are unwilling to, chances are they are trying to scam you.
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Like to hear your feedback and continue on the list of things you do and check when purchasing websites or businesses online.
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