Wes Read CPA, CFP®CEO PracticeCFO and CEO Practice Orbit

Common Delays When Selling Your Dental Practice

Name: Common Delays When Selling Your Dental Practice
Uploaded: 2024-08-20T14:31:23+00:00
Duration: 35 s
Channel: Wes Read CPA, CFP®
Description: A short advisory YouTube video (by Wes Read, CPA, CFP®) about common delays when selling a dental practice. The speaker highlights that sellers often…

20 Aug 2024 · 1 min

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0:35

A short advisory YouTube video (by Wes Read, CPA, CFP®) about common delays when selling a dental practice. The speaker highlights that sellers often wait until a buyer requests information (post-LOI) to assemble due diligence materials, which causes avoidable delays and stress. He recommends that sellers prepare and package required financial and practice documents in advance so they can hand them over immediately after the LOI is signed.

Chapters

One of the issues that I see for sellers is that they'll sign the letter of intent and they wait for the buyer to make the requests for the information, they wait for the buyer to make financial requests, and then at that point, the seller starts the process of gathering that information. This is all causing delays. And there's usually a timeline for due diligence, so it can add stress to the deal. But there's no reason why a seller can't already prepare all that information the second they start thinking about selling the practice and have it packaged and ready to go so that upon the LOI being signed, they can just hand it over.