Escrow Services

[bluerayconcepts]

Can anyone recommend some escrow services for using when purchasing companies? Preferably ones you have used and not just heard about.

Someone else here recommended moneybookers, but it only led me to the skrill website. i am looking specifically for escrow services.

Thanks

 

[bluerayconcepts]

Hosting Brokers mentioned escrow.com as what their customers usually use.
Please post if you know of any others.

 

[Artashes]

I don't know of any escrow service for hosting companies, but as an option, why not just act according to a signed contract? Write up an agreement (it doesn't have to be super complicated) where all steps of the sale process and obligations of both parties are explained. This is how I've done it on a couple of occasions.

 

[easyhostmedia]

yes make sure everything is in a contract, even that can not prevent some issues.

I once purchased another web hosting company that had clients and everything looked fine.

so took over the business, then noticed that what some of his clients were paying was low and even some hosting for free. It seems these were family and friends. so i naturally emailed them introducing myself and saying that i will be looking at their plans and usage and then create paid plans for them. then the person who sold me contacted me to say ' why are you going to charge **** these are my family and friends and i gave them free hosting' my reply was so what you sold me your business, so you have no say and as these have no ties to me then they will need to pay like any other client. I only lost 10% of these free clients when i presented them with a charged plan, but the worse was to come. I kept open the emails the seller had created ( changed passwords so he could not access them) and i got an email threatening me with legal action if i continued to use the site template as it had not been paid for. I told him i took over the company and as the invoice is in the name of a limited company then he has to chase that limited company which i never took over or any association with. i then just removed that email address and then changed the site template

 

[cheapdedicated]

Especially if you are buying across continents no amount of legal document will be good enough. If the seller wants to diddle it will require more money to enforce the contract than what you can get out of the company.

 

[easyhostmedia]

Especially if you are buying across continents no amount of legal document will be good enough. If the seller wants to diddle it will require more money to enforce the contract than what you can get out of the company.

yes. i could of paid the guy for the template, but as debts was not part of the deal and it was in the name of a ltd company that was nothing to do with me, then why should i.

 

[cheapdedicated]

yes. i could of paid the guy for the template, but as debts was not part of the deal and it was in the name of a ltd company that was nothing to do with me, then why should i.

We attempted to buy a company this year after it advertised on this forum. The revenue was over 15000 per month and the seller declared a net monthly profit of 4000 but when we asked for our lawyer to do an audit he stopped talking to us immediately and we gave up