Why You Always Need a Purchase & Sales Agreement When Buying a Dental Practice

When it comes to buying a dental practice, everyone wants the deal to close as quickly as possible. Whether you’re the seller or the buyer both parties would like a smooth transition. A common phrase in business circles is time kills deals. Something that often gets overlooked is putting together a proper purchase and sales agreement.

After the negotiating conversations, buyers and sellers simply don’t have the energy or ability to parse out another complicated document. Buyers typically construct a Letter of Intent just to get to the negotiating table. Then there are negotiations.  Then at the end of a deal a legally binding document must be created where both parties are happy and in agreement. In reality, this is one of the most important things you can utilize as a buyer to hedge protections that you deserve in good faith. (more…)