Buyer Checklist

  1. Confidentiality Agreement Signed
  2. Make an Offer to Seller (as soon as possible) and provide Good Faith Deposit
  3. Select CPA to help with due diligence and tax allocation
  4. Select Practice Evaluator to help with chart audit (if necessary)
  5. Apply for a bank loan – get applications, determine working capital requirements
  6. Apply for Life/Disability Insurance for bank loan, get malpractice.
  7. Select Attorney to help with contract
  8. Set up purchase entity (i.e., Corporation, Partnership, etc.) if necessary
  9. Lease – Assignment or new lease in Buyer’s name (Note:Unless otherwise negotiated, any security deposit on record will be returned to Seller.)
  10. Equipment Leases – If assuming, call lease companies for assumption documents
  11. Review all Sales Contract documents
  12. Select Payroll Service and Bank
  13. Review Accounts Receivables, if being purchased
  14. Letter of Transfer (introduction to patients) to be sent out after closing.
  15. Seller’s letter to his patients, with Buyer’s approval
  16. Buyer’s patient list (if applicable)
  17. Review appointment book to see if there needs to be changes in scheduling
  18. Obtain Federal and State I.D. numbers (usually applied for by your CPA)
  19. Nitrous registration and lease or rental (if applicable)
  20. Applications, licenses, permits if necessary:Set up meeting with employees, as necessary
    1. Local Dental Society Application
    2. Narcotics License
    3. State DS Application
    4. X-ray registration
    5. Fee Schedule
    6. City Business License
  21. Employee benefits (what kind and how much?)
  22. Enroll with dental insurance carriers
  23. Select Business systems – Account Receivables/Account Payable
  24. Select dental lab
  25. Order stationary, business cards, prescription pads, announcements, etc.
  26. Notify State Board, after closing.