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  1. #1

    Question Buying Hosting Company out of Country?

    security!!!

    Ok, now that security is expressed.

    I am looking to buy another persons web hosting company who is located out side of the United States. (I am located in the US)

    Well he is located in UAE and requests bank wire transfer. Is it secure to do such a thing? What kind of precautions should I take? The amount is between $1,000 and 10,000 USD.

    Also, how exactly do wired bank transfers work?

    I would appreciate any one's help.
    Thank you all,
    JezzoMaster

  2. #2
    If you are buying a company, you must have legal documents. I suggest you contact a lawyer first and make sure that no legal formalities are forgotten.
    Wholesale Domain Prices for Retail Customers - Rushtoweb.com

  3. #3
    Originally posted by domainwala
    If you are buying a company, you must have legal documents. I suggest you contact a lawyer first and make sure that no legal formalities are forgotten.
    Can I do this online?

    Or do it without lawyer contact?

  4. #4
    I wouldnt even consider purchasing a business without copies of there business plan and financial documents which verify its worth.

  5. #5
    Originally posted by NH-Benjamin
    I wouldnt even consider purchasing a business without copies of there business plan and financial documents which verify its worth.
    Anything else that I should be cautious of?

    ----------------------------------------------------------
    In addition, can people give me advice as to what they have done when they came upon this situation?

  6. #6
    Make sure you do part of the money before, and part after.

  7. #7
    Any good documents I need to sign with him before I transfer?

    Say, NDA's, legal documents, etc?

  8. #8
    Join Date
    Aug 2003
    Location
    Twin Cities Area
    Posts
    5,651
    use escrow.com
    if you haven't considered chapter 7 bankruptcy, maybe you should.
    eliminate your debt, keep the property you want, most people qualify.
    contrary to popular belief - no attorney is necessary!

  9. #9
    Join Date
    Apr 2004
    Location
    Toronto, Canada
    Posts
    464
    Originally posted by jezzomaster
    Can I do this online?

    Or do it without lawyer contact?
    Perhaps auditted financial statements to have added assurance.

    Escrow would definately protect you. You should, however, contact a lawyer regarding this matter.

  10. #10
    Originally posted by 2fangs
    Perhaps auditted financial statements to have added assurance.

    Escrow would definately protect you. You should, however, contact a lawyer regarding this matter.
    what are auditted financial statements?

    financial statements on audio?

  11. #11
    Originally posted by LaurenStephens
    use escrow.com
    Do they transfer web site material as well?

    Thank you

  12. #12
    Join Date
    Dec 2002
    Location
    Quad Cities, Iowa
    Posts
    1,597
    Here's how escrow works:

    You send the escrow service the money. After it's received, the seller gives you the property/clients and then the escrow service pays the money to the seller. The escrow service is simply just a middleman.

  13. #13
    Join Date
    Aug 2001
    Location
    California
    Posts
    1,136
    Originally posted by jezzomaster
    what are auditted financial statements?

    financial statements on audio?
    If you are asking this question, it really is imperitive for you to contact not only a lawyer but an accountant as well. They will be best suited to give you guidance on how to proceed and what to do.

    -Steven
    http://www.insiderhosting.com
    BGP Blend of Telia, GTT, Zayo, and Cogent in One Wilshire, Los Angeles!
    True Definition of Managed Hosting
    Proudly Offering Shared Hosting, Reseller Hosting, VPS, Dedicated Servers, and Co-location

  14. #14
    Join Date
    Dec 2003
    Location
    Boston, MA
    Posts
    603
    use escrow.com as LaurenStephens posted.

    Ask some questions to yourself first.

    Is the company really worth that amount?
    Where will the servers be hosted?
    Whats the main clientele look like? foriegn or US
    Can you maintain the systems and clients alone?


    I suggest starting your own company $1,000 is a nice startup. Then you can purchase users from (Selling or going out of business hosting companys). A lot safer than out of US business sales.
    Axcelx Technologies - James
    Boston Colocation | Boston VPS
    Massachusetts Server Colocation and Dedicated Servers

  15. #15
    Join Date
    Aug 2002
    Location
    Stony Plain, AB
    Posts
    606
    Yes, i would just try and buy the clients and host them on your servers within the US. 1,000 is a good amount to start off with, plus you would already have clients to help cut costs down. just paying for clients and not server/software etc will also cut costs down and help you in the long run.

    - Eddy
    Tired of jumping web hosting providers? Tired of OVERSELLING? Tired of Poor service/quality?
    Are you Finally realizing You Get What You Pay For In Life?
    If So...Please Visit ***** eServicesUnlimited***** - We Guarantee 100% Satisfaction we promise that!

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