Frequently Asked Questions
Our website listings come mostly from referrals, our website forms, and audience targetted marketing campaigns. We believe that quality listings of online businesses are based on trust, so we focus as much as we can on providing a good experience to our clients.
There is no official license or certification to conduct a website brokering service. SingaporeWebsiteBrokerage.com is managed and operated by Dustoff Media (Co. Reg. 53352241B). Our team of brokers are experienced in digital marketing and online businesses and we are happy to assist you and provide consulting for your websites.
Once the Purchase Agreement is signed by both the buyer and seller, we move into the Funds Transfer and Inspection process.
Here are the steps:
1. Both parties agree to terms and our company asks buyer to fund the offer amount through wire transfer, or cheque payment.
2. Once the funds are secured the seller will send the buyer all of the assets listed in the purchase agreement. This typically includes the domain(s), website files, hosting, switching payment links (so buyer can see the income first hand), client and email lists, social media accounts, etc.
3. Once the buyer has received the assets, our company will start the inspection period which is typically 3-5 working days to ensure everything is in place and as advertised.
4. After this period is over, our company will ask the buyer to either accept or reject the transaction, after which the money will be dispersed to the seller (upon buyer acceptance).
No, we do not do auctions. Buyers are free to make a private offer through the broker in charge of the listing whenever they feel comfortable. Typically, the buyers who are first to make an offer that is close to or at the advertised asking price, and are a good fit for the business in question, will be the new owner.
We do not ask for any upfront fees. We only take a commission from every successful sale of the online business. We also offer FREE website valuation and consulting before we go on to list or update our buyers with your website details.
Our standard rates are 10% of the closing price of the business. The commission rates may vary depending on the size of the business and how difficult it will be to sell, among other factors.
This will depend on the size, niche, work requirements, website traffic, marketing history, and potential for growth of the online business.
We ask sellers to continue running the online business as usual during the sales process up until the inspection period and transfer of assets to the new owner.
After the initial consultation we have with sellers to determine how likely their business will sell and for what price (valuation), and if both parties feel comfortable moving forward, we will ask the seller to sign a website listing agreement.
The agreement covers the following:
- the length of the exclusivity period (during this time sellers will not be allowed to list it with another broker or marketplace).
- the commission percentage to be paid on a successful sale (on the gross sales amount).
Once the agreement is signed, SingaporeWebsiteBrokerage.com will be the official representative of the listing and we will move onto the listing stage.
However, should the seller choose not to list his or her website, we can place the business under Private Listings. In this case, we will contact suitable buyers interested to acquire the business.
No, due diligence is the responsibility of the buyer. We are not able to offer any guarantees on the performance or legitimacy of the assets listed, so all buyers are responsible for their own due diligence.
We can say that buying an internet business is risky. It is the same as acquiring any new businesses. There are many factors you need to consider before paying money to buy a website. However, SingaporeWebsiteBrokerage.com emphasises on close cooperation between the Seller and the Buyer. In terms of the monetary returns and long term goals, the positives of owning a profitable website outweighs the negatives.
If you need to talk to us for assurance or how to buy an online business, feel free to contact us.
We take misrepresentation very seriously. As such, we conduct our own thorough analysis prior to listing to ensure that all claimed traffic and financials are legitimate and in line with our client’s expectations.
While buyers are ultimately responsible for conducting their own due diligence and we can’t offer any guarantees, our process can help alleviate some of the fear of misrepresentation. If there are post transaction discoveries, we can help guide you in the right direction for legal representation.
SingaporeWebsiteBrokerage.com offers a 30-day Money Back Guarantee from the date when the Purchase Agreement is signed. This is to align and respect the interests of both the buyer and seller.
One can make a verbal or written offer to the broker in charge of the listing for any amount and structure that they feel best suits their needs. The broker will discuss this offer with the seller and come back with either a counter or an acceptance of this offer depending on the needs of the seller. A negotiation phase is common as there are several factors (price, terms of offer, time needed for due diligence, closing date) that the buyer and seller must come to an agreement on.
The preferred method to making an offer is a letter of intent (LOI) as it is a written and signed offer that shows the buyer is committed to following through on the transaction pending due diligence. The LOI is not legally binding.
Once an offer is accepted, the due diligence phase begins. The time needed for this depends on buyer’s needs, but is typically no longer than 14 days for online properties.
If due diligence checks out and the buyer would like to proceed, a legally binding Purchase Agreement is drafted and signed by both parties, and the buyer is asked to transfer the funds.
At a minimum, we have the sellers agree to 30 days of after sale training and support. This covers any questions a new owner may have regarding running the business or how to grow it. Sometimes the sellers are willing to stay on longer in a more involved capacity such as a consultant and running the business entirely or partially for a period of time.
We strive to take care of first-time buyers as we understand from personal experience how nerve-wracking buying an online business can be. It isn’t something tangible that you can see or hold like an offline business with a physical location, so it is normal to feel somewhat apprehensive.
We believe that learning and taking action breeds confidence, so feel free to get in touch with any questions. We also recommend signing up to our Buyer List, after which we are happy to jump on a short call to discuss your goals and go over everything you need to know to get started.
Yes. All buyers interested in our sellers’ listings will be asked to sign a simple, blanket non-disclosure agreement (NDA) that covers them for the next 12 months on all future listings. This will be delivered and signed digitally for ease. This helps ensure sellers’ hard work and private data doesn’t fall into the wrong hands.
No. SingaporeWebsiteBrokerage.com is the legal representative for the seller, so any inquiries or offers must go through the broker in charge of the listing.
This actually depends on how your offer is structured. Some buyers choose to finalise their due diligence in an exclusive (take the listing off the market) or non-exclusive (listing is open to other offers) period prior to signing the legally binding Purchase Agreement. Others are comfortable with their due diligence when they make an offer and want to proceed to signing the agreement and transferring the funds.