This content was created by Wes Read CPA, CFP®. This content was uploaded by Wes Read CPA, CFP®. This is a YouTube video titled "Why Use an Escrow When Selling Your Dental Practice?" created on January 25, 2024, discussing the benefits of using escrow for financial security in transactions, particularly in the context of selling a dental practice.
What is the reason to use an escrow when selling your dental practice? There's a handful of benefits, but the primary one is financial security. Anytime that there's a transaction, that happens and one person has to deliver compensation for goods or services, it's difficult. When do you hand the money over? How all of that is coordinated and escrow ultimately acts as a neutral third party that holds funds securely until all of the terms of the sailor are met. And this reduces the risk of any financial loss due to fraud or any breach of contract.
