How to pay when you buy a blog?
Aug 25th, 2008 by Administrator
While I am a big fan of developing blogs from bottoms up, I also understand that in some cases it makes perfect sense to buy an established blog. However, as I have learned the hard way after purchasing several blogs, there can be some issues with a transaction going smoothly and all sides being happy.
Depending on whatever your definition of “large” is, my advice would be to include your attorneys and bankers.
For a “small” transaction, in which the fees of attorneys and bankers may not be justifiable, I strongly suggest that you do not pay the total amount upfront. I did that mistake since that reduced the amount of paperwork for me, but the transaction did not go through smoothly as .nu domains cannot be transferred. When I tried to reverse the transaction, the money never came back to me.
Now should I sue this person? I can but my time is worth some money and I invest it wisely. Definitely I do not invest in losers who may drag their feet even if I bring them to court.
The best thing is to pay a small advance payment, and then make the second payment when the domain transfer is complete. The final payment should be made when the blog is live on your own server. To satisfy the seller, you can also put the money in an escrow account.
