Dental Practice Buyer's Checklist

How to Buy a Dental Practice: A Dental Practice Buyer's Checklist

Use this checklist to help you start the process of buying a dental practice. Then give us a call and we can help you get the ball rolling.

– Select a CPA and attorney

Make an offer to a seller

– Apply for financing

– Apply for life and Disability insurance for Mortgage company

– Lease-Assignment or new lease in Buyer’s name (Note: Unless otherwise negotiated, any security deposit on record will be returned to Seller)

– Equipment leases – if assuming, call lease companies for assumption documents

– Review all Sales Contract documents

– Review Accounts Receivable if being purchased

– Check regulatory compliance status (see attached “Regulatory Compliance Needs Assessment” form)

– Prepare Letter of Transfer (introduction to patients)

– Select dental lab

– Order stationery, business cards, prescription pads, announcements. etc.

– Plan open house

– Prepare newspaper announcement, if applicable

– Notify State Board [GA 404-636-7553]

– Perform UCC-1 filing, if Seller holds a promissory note

– Review appointment book to see if there needs to be changes in scheduling

– Obtain Federal I.D. and State I.D. numbers (usually applied for by CPA)

– Transfer Seller’s unemployment rate to Buyer if beneficial to Buyer (see CPA) if, after closing date, Seller will not be paying payroll taxes in the State of California

– Get Nitrous registration and lease or rental (if applicable)

– Get applications, licenses, permits

– Dental Society Application

– GDA Application

– Fee schedule

– Narcotics license e. x-ray registration

– City business license

– Set up meeting with employees

– Include seller’s letter to his patients, with Buyer’s approval

– Include buyer’s patient list (if applicable)

– Decide on employee benefits (what kind and how much?)

– Enroll with dental insurance carriers

– Bank Account – Business (order endorsement stamp)

– Select business systems – Accounts Receivable/Accounts Payable

We are glad you are taking the steps to buying a practice the right way!

Please let us know if we can answer any questions you have, or if you are ready to set up a meeting with a dental practice transition specialist today!