In California, dental practices are placed on the market when the owners are relocating or retiring. The sales provide an opportunity for new dental professionals to expand their careers. A local broker provides information about dental offices for sale in San Francisco Bay Area and how new dentists can finalize a purchase.
Review the Earning Statements
When buying a dental practice, it is important to determine the earning capacity of the existing business. The financial statements of the current business determine if it is a sound investment for the buyer. The assessments establish whether the new property could present a successful opportunity.
Conduct a Market Analysis
A market analysis is conducted to evaluate the property value. It determines if the asking price for the property is fair and reasonable. The findings determine the price at which similar properties in the same area sold previously. The comparison of the properties and earning potential determine if the selected practice is the right choice for the buyer.
Evaluate the Terms of the Sales Contract
The terms of the sales contract define what the buyer receives in addition to the property itself. Typically, furnishings, equipment, and some supplies may come with the property. The seller could add the patient roster to the sale or add terms related to their existing staff. The buyer reads through the contract to determine if all terms are acceptable. Click here for more information.
Prepare for the Closing
The closing requires the buyer to provide information about their property insurance and pay appropriate closing costs. The sales contract defines which party pays costs involved with closing the transaction. The process involves the creation of a new deed for the property. The buyer receives the keys to the property by the date they are to have access.
In California, dental practices are available when owners want to move to a new area or retire. The sales enable buyers to obtain a property in their preferred area at a reasonable price. The terms of the sale define whether the buyer faces any additional provisions. Dental professionals who are ready to review dental offices for sale in San Francisco Bay Area can contact Western Practice Sales.
