Unlike when closing the sale of a traditional business, when you sell your internet business you have the advantage of utilizing a virtual closing. If you have sold a brick and mortar business before then you probably conducted the closing at an attorney’s office (either yours or the buyer’s) and more than likely sat there for the better part of a day. Not only was it tiring but your attorney’s bill was perhaps outrageous. When you sell website, it is unnecessary to do so in person as it is a smooth and straightforward process that can be easily managed via telephone and internet.
Most internet business brokers simplify the process so much for you that it is barely even necessary to fully utilize an attorney. Your internet business broker will usually provide an asset purchase agreement for you that after review is executed and emailed back by both parties. The bill of sale is handled the same way as well. After the buyer of your website transfers the funds to the escrow agent (a website broker can effectively handle this aspect as well) and the receipt of funds is confirmed, you will then proceed to transfer the assets of website to the buyer. Once the asset transfer is complete and confirmed by the buyer, the escrow agent will then transfer the funds to you. This closing process should not take more than a few hours and can be done with a few phone calls and emails.
At the end of the day, a virtual closing will save you a great deal of time and likely thousands of dollars in legal fees.