How to Use the Website Purchase Agreement
Here's How Best to Use the Website Purchase Agreement. Step By Step.
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If you're already at the point of negotating
the sale or purchase of a website, there's no doubt you will require
a legal contract such as my website
purchase agreement template. This contract is a legally binding
agreement between two parties for the purchase of an online asset,
either domain name or website.
The whole point of using a document as such, is that it will protect
both parties from any legal issues that may arise after the sale
is finalised, as well as bringing clarity to the sale itself. Not
to mention, a sense of confidence for both involved. Let's face
it, buying a cheap $250 website may not require any legal contracts,
but if you're in the process of buying or selling a $200,000 website
- a contract like this is an absolute must.
The following steps outline, how I have used the document in the
past. This is just a basic overview of what's involved.
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| STEP 1. |
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Once initial negotiations have commenced, and a price is agreed
upon, cost of the website purchase agreement template may be settled
as follows.
- seller purchases the website agreement template,
- the buyer purchases the website agreement template, OR
- perhaps both parties agree to split the cost 50/50.
TIP - If you intend on selling a $5,000 website, I would set the asking
price at $5,100. This way the additional $100 will cover the cost
of the website purchase agreement. |
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| STEP 2. |
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The initial draft is done up in beta format
by the seller. This rough copy outlines the basics of the agreement,
such as
- both parties personal details,
- details of the website
- a complete listing of included assets
- agreed price and payment terms.
Of course, there are more details than this, and these are highlighted
within the website purchase agreement template. Follow these in the
highlighted areas, and complete them as needed.
Once this copy is done, this copy is then sent to the buyer for assessing.
It is usually best to send a copy over in original .DOC format and
allow them to make colored notations against the existing document.
This continues back and forth until a satisfactory purchase agreement
is obtained.
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| STEP 3. |
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Once both parties are satisfied with the
final draft the document is then converted into PDF format. Personally
I use PRIMO
PDF This is a great free tool that converts word documents into
PDF documents. Its easy to use and works a treat.
Once both parties have a copy of the final PDF copy, they then both
must sign and date the agreement. It is always best to have someone
witness the signatures if possible. Once this is completed, transferral
of the website/domain name can commence and outstanding monies can
be paid.
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