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In this video tutorial, viewers learn the importance of a website purchase agreement when buying or selling a website. This legal document outlines the details of the sale and transfer of the website and its related assets, including domains, email lists, social media accounts, and domain ownership transfers. Unlike simple domain purchases from sites like GoDaddy, a complete website sale involves multiple components. Additionally, the tutorial provides information on marketplaces where websites can be purchased. To create a website purchase agreement, viewers are directed to eForms, which offers an online database of fillable legal forms.