FAQs About Dental Practice Sales In California

by | Jan 17, 2017 | Dentistry

In California, buyers need to become aware of circumstances that could affect the purchase of a dental practice. By understanding these circumstances fully, the buyer can avoid issues and purchase the best practice for them. The following are FAQs about dental practice sales in California.

When is the Property Inspection Conducted?

The property inspection is conducted after the buyer’s offer is accepted, and the sales contract is signed. The inspection must be scheduled by the buyer, and they must submit the full cost of the inspection prior to acquiring these services. The inspection identifies any issues that exist with the practice. This includes structural, wiring, and cosmetic issues that could present an issue for the buyer.

Under What Conditions Can the Sales Contract be Canceled?

The sales contract can be canceled if the property inspection identifies a large volume of issues. The buyer has the right to end the contract if they cannot reach an agreement with the seller to remedy these conditions. Additionally, the sale contract is canceled if the title search identifies another party as the lawful owner of the practice.

Under What Conditions Could the Buyer Acquire a Refund for Their Down Payment?

The buyer can acquire a refund if they received title insurance. The coverage is provided by an attorney before the title search is conducted. If the results of the title search show that the seller isn’t the rightful owner, the title insurance guarantees the buyer a full refund of all money they provided for the purchase of the property.

How Can a Broker Help a Buyer Find the Right Practice?

They evaluate the requirements of the buyer including the location preferred. They assess all dental practices that meet these specific criteria and schedule a showing. They help the buyers review these opportunities based on their requirements and additional benefits that come with each property.

In California, there are valid reasons that could affect the completion of a dental practice sale. They include the findings of the inspection, the title search, and the terms of the sales contract. Locals who want to review dental practice sales in California, visit the website for further details.

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