I am selling my webhosting company (website + whmcs + clients .. ). Buyer said he will pay 7 days from the start of the escrow. Buyer signed the NDA and sent it to me from his company email. Is it safe to provide whmcs login details to the buyer before getting the full amount ? whmcs contains all client details, cc info etc. So is it safe ? What is the usual procedure for selling a hosting company via escrow ? What all details should be removed ? Should I create a restricted whmcs account ? Please help.
Once he has paid in the full amount that you agreed to he can get the login information, not before that. Also you need to make a total clear written agreement that once he get the login the ESCROW service had to pay you immediantly. This you need to check with the Escrow service how you secure this to actually happen. This forum is not the right source to find a solution for your issue, speak with the Escrow service and if it is a large amount you need an attorney.
The amount needs to be held in escrow before you hand over any details. If he needs confirmation of your revenue, client numbers etc. offer to create a walkthrough video with whatever he needs. I sold my hosting business on Flippa. Buyer Paid via Flippa Escrow --> We handed over all details and began transferring domains --> Once the buyer had checked through everything, funds were released.
When you start a escrow they will tell you when it's time to "ship" or "give" the info. They have to pay the escorw service first. Then on the 7 days or whatever agreed amount of time you'll get the money once they approve it or the time lapses