Chapter 8 – Choosing your Payment Options
I can tell you from experience that Escrow service is the safest way to accept payment for a Web site. The other different kinds of payments methods can potentially give room to fraud. I know you might be asking about “PayPal”. DO NOT USE PAYPAL to receive money for your Web site. Fraudulent buyers have found a way to cheat the system, so my advice to you is to stay with Escrow service.
Be very careful of the buyers, research every buyer diligently before you accept any bid or buy it now (BIN) price. If you are selling at auction, the moment you accept an offer, the sale will end, so think before you accept the offer from bidders. Another rule of Flippa marketplace is once the auction bidding passes the reserve price, you’re obligated to sell your site to the person who placed the highest bid you accepted.
Never sell your Web site under pressure. I have been a power seller on eBay, and at many other auction platforms. I tell you with authority that almost 99% of bidders who pressure you with high bidding prices are fraudulent. The final decision should always be yours.
Know your Buyers
…and Let Your Buyers Know You
Always check the buyer’s profile and feedback on Flippa. You can never be too careful to conduct a due diligence on a potential buyer. You want to safeguard your investment. You want to filter out the phony buyers and retain serious buyers. Write back and forth to your potential buyers.
Heck; call the potential buyer if you have to, and ask diligent questions until you are satisfied. Never sell your Web site under pressure. Watch out for buyers who will entice you with a large amount of money, requesting that you close the auction and deal with them outside Flippa. Never deal outside the marketplace.
Many have learned the hard way by doing this. Respond to your buyer’s questions as soon as you can.
Potential Buyers Wants to know you
Tell your potential buyer, if they ask you; why you developed the Web site in the first place. Your buyers might ask your personal questions, answer with professionalism. Some potential buyers might ask why you want to sell the site, what problems did you encounter maintaining the site, and many other questions like that.
Always know your confidentiality line, never disclose any information you don’t feel comfortable disclosing. During your chat with the potential buyer, indicate the pre and post conditions of the Website property. It is very important that you lay your cards right the first time. Never assume anything, especially when it comes to internet transactions.
Ask your potential buyer repeatedly if they are satisfied with your terms and conditions. You could download the template for a contract of sale through the Flippa Website. Read Flippa conditions of acceptance before you use the form. You could also get your own lawyer to draw up a contract agreement for you.
I can tell you from experience that most buyers would really like to know why you want to sell your Web site, especially if the Web site is making money for you, and your answer should be “I need a quick influx of funds, or I have urgent bills to pay, or I have a whole portfolio of Web sites and I would like to offload some of them for cash, or if any of these options does not apply to you, simply state that you are in the business of Website development and sales”, because that is who you are, or that is who you want to be.
You can also tell the buyer that you cannot take the site to its full potential, let the buyer understand that the site needs a boost and you simply cannot propel the site to its full potential, so instead of keeping the site and let it suffer, the best option is to let someone who has the time and desire to excel it to the next level and maximize the profit and potentials.
If you cannot boost the existing site, it does not mean someone else cannot boost and get the best of the Web site and its full potentials.
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