It is very hard to give you any advice due to the vagueness in your post. Personally, if its < 100K deal as it sounds from your post, I'd just want the cash without any future commitment. You say they want you to work as a contractor - what if you quit the next day?
Bottomline: if it is a tiny deal, figure out a fair value for your site, get the cash, work for them without any longterm commitment so you can quit tomorrow if you'd like.
When I sold a site in high school for 5 figures, I was so over it the next day. That would have been a problem if I'd made a commitment to stay and maintain.
You say they turned down your initial offer. I was expecting the other way around. I know when I got the initial lowball offer, I multiplied it by 5. I sold it for 4x the initial offer.
Bottomline: if it is a tiny deal, figure out a fair value for your site, get the cash, work for them without any longterm commitment so you can quit tomorrow if you'd like.
When I sold a site in high school for 5 figures, I was so over it the next day. That would have been a problem if I'd made a commitment to stay and maintain.
You say they turned down your initial offer. I was expecting the other way around. I know when I got the initial lowball offer, I multiplied it by 5. I sold it for 4x the initial offer.