What is the name of your state (only U.S. law)?
NJ (The potential buyer is located in CA)
I am selling my website (both the domain name and entire website for about $40,000) to an individual who wants to use escrow after the contract is signed. As I have researched, the money will be held by a 3rd party during the transfer and inspection period. My concern is, what is stopping this individual from putting the money in escrow, acquiring the logins from me to access the highly confidential code for 'his inspection' and then for him to either transfer the code to himself (or even damage the code) and then make up some excuse to the escrow company on why he doesn't want to buy it anymore? Then I would have my website code stolen and the escrow company would not release the money to me.
Does anyone know a way to execute this transaction in a way where I am protected? I'm not looking for people to state the obvious that if he does this then I have grounds to sue. I want this transaction to go smoothly and do not want to have this wind up in court where it would be tough to proof the theft of the code.
Thank you!What is the name of your state (only U.S. law)?
NJ (The potential buyer is located in CA)
I am selling my website (both the domain name and entire website for about $40,000) to an individual who wants to use escrow after the contract is signed. As I have researched, the money will be held by a 3rd party during the transfer and inspection period. My concern is, what is stopping this individual from putting the money in escrow, acquiring the logins from me to access the highly confidential code for 'his inspection' and then for him to either transfer the code to himself (or even damage the code) and then make up some excuse to the escrow company on why he doesn't want to buy it anymore? Then I would have my website code stolen and the escrow company would not release the money to me.
Does anyone know a way to execute this transaction in a way where I am protected? I'm not looking for people to state the obvious that if he does this then I have grounds to sue. I want this transaction to go smoothly and do not want to have this wind up in court where it would be tough to proof the theft of the code.
Thank you!What is the name of your state (only U.S. law)?