Unlike a traditional brick and mortar business the closing stage of an internet business transaction is surprisingly very simple.

Towards the end of the due diligence process, your internet business broker will begin to prepare an asset purchase agreement (APA). This APA will clearly detail the list of assets (both tangible and intangible) that will be included with the sale and transferred to the buyer at closing.

Your broker will also assist you with allocating a value to each asset and will likely negotiate these values on your behalf with the buyer as each of these assets carry different tax consequences for both the seller and buyer.

During this time the buyer’s attorney also usually drafts a bill of sale. These two documents are the main components of the closing contract. At this stage of the transaction, the documents are signed and the buyer is instructed to transfer the funds to an escrow agent.

Some internet business brokers perform the duties of the escrow agent for the seller. This service should be performed free of charge and it minimizes the legal expenses of the transaction. Once the escrow agent confirms receipt of the funds, the seller begins to transfer the assets to the buyer. Then as soon as the buyer confirms receipt of the assets, the escrow agent will transfer the funds to the seller.

While many business owners that have sold their business before have experienced more lengthy and difficult transactions, when you sell internet business it is usually smooth and straightforward. It is very important, however to utilize an internet business broker that has experience in closing similar deals before and is very familiar with these types of transactions. Additionally, experienced internet business brokers will assist you in most phases of the deal which will likely save you thousands of dollars in legal expenses.