Would you buy webapps?
terrellm: I don't see how the fact that it's a web app, content site, or desktop software would matter.  You value an asset, taking into consideration the acquisition and maintenance costs.  I haven't figured out the $250k for Retweet but I tend to be more ROI-based with my purchases.As far as good code vs bad code, if you intend on maintaining the site then you probably want to setup a code review via remote desktop where you can review some of the code.I'm in talks to buy the assets of a company that developed a desktop software program.  The software was developed in an archaic language I've never heard of and am not interested in learning, so I was pretty frank that the source has no value to me since my interest is in converting the customers over to my desktop product.  Had the code been in something like .Net that could easily be maintained, I'd place a higher value on the asset.I'm also in the process of selling a custom classified site written in .Net.  When I sell the site, I'll be providing the contact information of the contractor developer who created it.  The new owner will have the option of continuing with this developer or finding their own developer.