Buyer Checklist
- Confidentiality Agreement Signed
- Make an Offer to Seller (as soon as possible) and provide Good Faith Deposit
- Select CPA to help with due diligence and tax allocation
- Select Practice Evaluator to help with chart audit (if necessary)
- Apply for a bank loan – get applications, determine working capital requirements
- Apply for Life/Disability Insurance for bank loan, get malpractice.
- Select Attorney to help with contract
- Set up purchase entity (i.e., Corporation, Partnership, etc.) if necessary
- 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
- Select Payroll Service and Bank
- Review Accounts Receivables, if being purchased
- Letter of Transfer (introduction to patients) to be sent out after closing.
- Seller’s letter to his patients, with Buyer’s approval
- Buyer’s patient list (if applicable)
- Review appointment book to see if there needs to be changes in scheduling
- Obtain Federal and State I.D. numbers (usually applied for by your CPA)
- Nitrous registration and lease or rental (if applicable)
- Applications, licenses, permits if necessary:Set up meeting with employees, as necessary
- Local Dental Society Application
- Narcotics License
- State DS Application
- X-ray registration
- Fee Schedule
- City Business License
- Employee benefits (what kind and how much?)
- Enroll with dental insurance carriers
- Select Business systems – Account Receivables/Account Payable
- Select dental lab
- Order stationary, business cards, prescription pads, announcements, etc.
- Notify State Board, after closing.
