In Arizona, dental professionals who are retiring take the final step by selling their practice. The process involves setting up a listing and advertising the practice to new and established dental professionals. A local broker offers assistance for retiring dentists who need to learn how to Sell Dental Practice in Arizona.
Managing Contingencies When Necessary
A contingency clause is used when a specific condition must be met before the practice purchase closing. A buyer who is interested in the practice uses a contingency when they are also selling their current practice in a different location. The contingency implies that their property must sell before they have the funds to pay for the new practice. Under the conditions, the practice won’t close until all contingencies are met.
Protect Your Workers
Sellers who want to protect their workers add a clause in the sales contract for their workers. The condition states that the new owner must employ the current staff based on their current rate of pay and schedule structure. The clause defines reasons for termination that also protect the workers from unethical employers in the future. Upon acceptance, the new owner is required to keep the existing staff for as long as they own the practice. To know more, click here.
Offer a Smooth Transition for Patients
Dental professionals that are retiring help the new owner transition their patients. The process enables the existing and new dentist to work together as a team. The process helps the patients get used to the new owner and their services. A smooth transition helps the new owner retain all or at least most of the existing patient roster.
Identify Any Inclusions in the Sales Contract
All items that are included in the sale are listed on the sales contract. All items such as furniture, equipment, or fixtures that were added by the current owner are listed. The value of the items is also provided for the buyer upon request.
In Arizona, dental professionals who are at the end of their career follow steps to sell their practice. If certain conditions apply, the dentist must utilize contingencies to cover potential issues. Dental professionals who are ready to Sell Dental Practice in Arizona contact website now.
