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Flippa Questions

Discussion in 'Site Flipping' started by MojoSoDope, Mar 20, 2011.

  1. MojoSoDope

    MojoSoDope Regular Member

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    I've been building two sites for the past three months, and I plan
    on selling them soon. I'm going to use Flippa to auction off my sites,
    but I have a few questions before I do so.

    1. Does Flippa make you fill out an tax form?

    2. Lets say I auction off a site, and the winning bid is way less
    than what I expected, can I refuse to sell?

    3. What's a success fee, and how much is it?

    Best Regards,
    MojoSoDope
     
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  2. ScrapeBoss

    ScrapeBoss Elite Member Premium Member

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    Location:
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    Make sure you have your autction price before listing. That should be the amount expected by you. So when someone wins, you would happily transfer the site. If the person wins at the price set by you and you still refuse to transfer the site, yourreputation would be affected and would likely not be able to sell again under your username.

    Flippa charges a fee based on the winning price of the site sold. You may bear the whole amount, share with the buyer or let the buyer pay the full amount to flippa.
     
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  3. MojoSoDope

    MojoSoDope Regular Member

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    Wow, thanks for the detailed response. I have to sell these projects
    by the end of Summer >.<
     
  4. meathead1234

    meathead1234 Moderator Staff Member Moderator Premium Member

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    Scrapeboss is on the right track, but not quite right. You now have to pay Flippa success fees as a seller and can't split with buyer.

    1) No tax forms

    2) You can overcome this by setting a reserve price

    3) If your site sells you have to pay a 5% success fee (up to $500). You can also pay $149 upfront to waive this fee completely.

    Hope that helps.
     
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  5. MojoSoDope

    MojoSoDope Regular Member

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    Thanks a lot bro, that pretty much summed up all my questions for now.
     
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  6. blackhatsniper

    blackhatsniper Newbie

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    When do you pay $149 upfront? Unless I expect to sell it more USD 3000