In Arizona, retiring dental professional need assistance when selling their existing practices. Their best option for the transaction is to hire a professional broker who specializes in practice sales. The broker shows the existing owner how to sell a dental practice in Arizona more proactively.
Inspecting the Property of Hazards and Imperfections
To eliminate problems down the road, dental professionals should schedule an inspection of their existing practice. If any issues are discovered, it is vital that they schedule repairs immediately. During a real estate transaction, the buyer is required to pay for an inspection for their lender. By completing the step, the dental professional eliminates delays and has the option to sell their practice faster.
Staging the Property for Showings
For staging purposes, the dental professional should schedule a professional cleaning for the practice. Any outdated furnishings are also replaced with more contemporary selections. Any issues with patient room installations are also addressed. The purpose of staging is to show prospective buyers what the practice will look like after the purchase. The staging option also attracts more buyers.
Identify Inclusions on the Sales Contract
All inclusions for the sales contract are negotiated with the broker. Dental professionals who are retiring will want to protect their staff during the transaction. The inclusion provides the new dentist with a full or partial staff. The seller adds the patient roster to the sale if they are retiring, too.
Transitioning the Patients and Staff
The transition period helps the new dentist take over the practice. The seller and their staff stay at the practice to help with the transitional period. It encourages the existing patients to continue their visits to the practice. It also shows the new owner what local patients have come to expect.
In Arizona, retiring dental professionals work with brokers when selling their practices. The broker has advanced knowledge of commercial property sales and understands where to get started. The process goes above and beyond a standard transaction. It involves an assessment of earning capacity and a real return on the investment. Retiring dental professionals who need to sell a dental practice in Arizona contact Western Practice Sales.