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arg · 11-12-2004, 07:48 AM

Better to get a contract signed now if you can than to not get one at all. The guy may have no intention of screwing you over, but maybe someone will come at him with a $50k offer, and he'd sell it for the 50k and return your deposit or something.

Personally I'd go with the handwritten contract as well. Just be clear about details, describing the entire transaction (including your down payment), rules like he can't back out and sell to someone else, when and how you're supposed to pay him the remainder (wiring is best, with wiring details in the contract, so he can't say "never got the check), what happens if you're late in paying him, what happens if a domain hijacker steals it during the two month period, and so on.

You might want to add a sentence saying that in the event of a dispute, parties agree to abide by binding arbitration by a licensed arbitrator of the (sellers?/buyers?) choosing in the state of X. Keeps legal fees down in the unlikely event things get nasty.

And throw on one of those "If any part of this contract should be disallowed or made void, the parties agree that the remainder of this contract shall continue to be in full force and effect" clauses.

11-12-2004, 07:48 AM
arg Confirmed User Join Date: Feb 2003 Posts: 1,164	Better to get a contract signed now if you can than to not get one at all. The guy may have no intention of screwing you over, but maybe someone will come at him with a $50k offer, and he'd sell it for the 50k and return your deposit or something. Personally I'd go with the handwritten contract as well. Just be clear about details, describing the entire transaction (including your down payment), rules like he can't back out and sell to someone else, when and how you're supposed to pay him the remainder (wiring is best, with wiring details in the contract, so he can't say "never got the check), what happens if you're late in paying him, what happens if a domain hijacker steals it during the two month period, and so on. You might want to add a sentence saying that in the event of a dispute, parties agree to abide by binding arbitration by a licensed arbitrator of the (sellers?/buyers?) choosing in the state of X. Keeps legal fees down in the unlikely event things get nasty. And throw on one of those "If any part of this contract should be disallowed or made void, the parties agree that the remainder of this contract shall continue to be in full force and effect" clauses.