Help Needed! (AUSTRALIAN posters read)

[JonathanLB]

Hey, I really need to hear from anyone who lives in Australia about a business matter.

I am (pending getting a loan from my dad) about to buy a Website (at $25,000) from a Webmaster in Australia. He is 18 years old, he claims. I am going to have him provide valid ID, like faxing me a passport picture and stuff, or whatever, a drivers license, etc.

He has sold another site recently to someone who had no problems ($3,550 on ebay), so I don't expect this to be complicated or anything, but I want to cover myself...

So my question, can an 18-year-old in Australia enter into a legally binding contract and what are the rules or laws regarding an international exchange of money like this?

Thanks...

[Champion of the Force]

I'm not really in tune with the law in these matters, however I do believe an 18 year old can sign a contract legally (we can vote and drink alcohol at 18 - why not sign a contract as well? ).

I don't really know much about international exchange of money and the regulations regarding that.

Sorry I couldn't be of more help.

[Darth23]

I have a website I'll sell you for 2500.

[JonathanLB]

Darth, it's not just any site. Internet sites are just like businesses, or at least the good ones, so I look for ones that make money and don't cost me too much in relationship to the cost.

$25,000 for a site that grosses $3,000 to $5,000 monthly is an awesome deal, plus I get another site that has 5,500 visitors per day but is not actually developed (just has a front page with great search engine rankings). That site should add another $1,000 per month once developed. It's quite a nice deal...

I have more or less secured the loan and I'm just working out the details. I'm going to use an escrow service for the exchange of the money and the site. It's too much money to mess around with...