[throwaway280382]

I bought a similar website on transferslot sometime ago for $15000. Later I realized I dont have time between day job, kids and general family life to pursue this business further. I let it die :(

Luckily, for $15000 I figured out I am bad at business.

Lesson for you: Unless you have done some amount of business/customers/sales/marketing before, dont spend such a big amount of money on your first venture.

[6DM]

I was looking to go big because I anticipate that I will not be able to do it part time. I am looking for a full time opportunity so that I can leave my job and focus on it, while drawing some income to pay bills.

Is there any info you can share on your acquisition process? Was there any steps that reassured you wouldn't be left with an empty account and no business operation to take over?

[throwaway280382]

Well, I was relatively naive but luckily the person was honest. So I did not have issues. But here are some suggestions. 1) Open an escrow account, pay some money for it. 2) Put source code, domain name transfership, any business doducments in that escrow. 3) Ask seller to provider support to you for 1-3 months. This should go into contract. 4) Release money in installmeents. 5) Release from escrow only after you are satisfied!