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The whole process of buying and selling websites can be quite complicated for the uninitiated and while I have written several articles already on specific aspects of website flipping, this is the first time that I will be going over the process step by step. This article in particular, covers the initial steps that both parties undertake when they buy or sell a website. Step 1: Buyer and Seller Come to an Agreement Before any step can be taken, the transacting parties, i.e. the buyer and seller have to reach an agreement. Of course, it all starts with the seller putting up his site for sale, then the buyer indicating his interest, and finally, both agreeing to a deal. The process can be done through reputable marketplaces like Flippa.com or privately through direct contact. Step 2: The Payment Method The next step is for the parties to agree on the mode of payment. There are two choices here: direct payment or through an escrow service. If you opt for direct payment, you are further given more paying options - PayPal, bank wire, and check or money order. If you choose to do it via escrow, there are several things you need to consider. Using Escrow Not all transactions have to be done through an escrow service. There is no hard and fast rule for this, but ideally, transactions that go higher than $1,000 should use escrow. A popular escrow service that has even been integrated into Flippa.com's system is Escrow.com. If you find Escrow.com's fees to be on the high side (although definitely worth it I should say), there are other services you can use such as SafeFunds.com. Whichever company you choose in the end, make sure you are comfortable working with that service. Next, sign up for an account with that escrow service. Having used both Escrow.com and SafeFunds.com previously, I know that signing up with either of these two is easy and free. Regardless of how rarely you plan to flip a site, it's always advisable to have an account beforehand so you will already have an idea of how escrow works. So how exactly does it work? In a nutshell, the process goes like this: Once the terms of the deal have been ironed out and are agreeable to both buyer and seller, the buyer then funds the escrow account. The escrow service verifies the funds and confirms this to the seller. Upon verification, the seller should then immediately initiate the transfer of the site to the buyer, who then checks the "goods". If everything is in order, the buyer informs the escrow
service and the seller gets the funds. While it all sounds pretty straightforward, some disputes may arise such as the buyer alleging that not all the goods have been delivered as per terms of the contract. When this happens he can file a dispute through the escrow service's dispute resolution system. As you can see, the first basic steps in buying and selling websites can be easily managed even by those new to the business, and with the assistance of escrow services when needed, there's no reason why you can't flip websites profitably.
This article only covers the first basic steps of how to buy and sell websites. Visit us to get the detailed steps of the process and other great tips on how to flip websites for profit.
Article Source: http://EzineArticles.com/?expert=Travis_Van_Slooten
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