Escrow Options

[NameWolf]

Hi Guys,

I am currently looking to sell one of my online businesses which generate around $7.5K/month revenue and we are about to finalize an agreement with one of the interested parties. We would like to use an Escrow service for the payment and transfer of assets which would require releasing funds at certain milestones/time frames upon providing business and client details etc.

Which companies/escrow services would you recommend for such a transaction ? Is escrow.com the best option or are there other alternatives ? I would especially appreciate getting advice from members who have used such escrow services under same circumstances.

Thanks in advance for your assistance.

Best Regards,

NW

I am also looking to put together an asset purchase agreement. What would be the best way to draft this ? Should I get it done myself or pay an authorized party to draft up the document for us.

Best Regards,

NW

 

[GeorgeK]

Best to use a lawyer for a complex deal like this, not escrow.com. John Berryhill from this very forum is someone I would personally recommend as excellent counsel.

 

[NameWolf]

What would be the range for the fees involved for a transaction such as this ?

Regards,

NW

 

[deepstar]

Im with George, you should contact an attorney. Depending on how complex the agreement is I am guessing you could pay from $1k to $10k.

We just finalized an agreement which was basically severl vendor accounts being switched over to us, an asset purchase agreement and an assignment and bill of sale and my attorneys charged $1750 to give you an idea.