Buyer and Seller negotiate sale under guidance of Broker

Under the guidance of the Broker, Buyer and Seller negotiate the price and terms of the IPv4 sale. In most cases, Buyer and Seller will execute an Asset Purchase Agreement codifying these terms. The Asset Purchase Agreement is a legally binding document that specifies when the Buyer is to fund escrow, and to which escrow agent, when the Seller is to initiate the transfer, and when the funds are to be released from escrow to the Seller. The RIRs are not involved in this step although they are aware that money often changes hands when IPv4 space is transferred.