In Arizona, the sale of a dental practice starts to free up capital for established dental professionals. The capital is used to begin a new chapter in a new location or it is the first step in retiring after a successful career. A local broker offers help when a dental professional is ready to sell dental practice in Arizona.
Perform a Valuation of the Practice
An appraisal is the first step in the process. A licensed appraiser completes the task and gives the dental professional the exact value of their practice. The value is used to determine the listing price for the property.
Set Up a Listing Package with a Broker
A listing package includes all documents needed to start the sales transaction. The listing agreement gives the broker the right to place the property on the market. It details the exact amenities of the practice and explains the requirements of the seller.
Among the details are statements showing who pays closing costs and any contingencies that apply to the purchase of the property. Once the agreement is signed, the broker adds the property to the Multiple Listing Service.
Respond to Offers and Review Financing
All offers are submitted to the broker and presented to the seller. The broker reviews the funding source identified by the potential buyer and determines if the mortgage is approved. All offers that are accepted must have financial backing from investors or a bank except for a cash sale.
Schedule Operational and Finance Closings
The dental professional and their broker must prepare for the property closing. The dentist must start the shutdown process for their practice and close up for business. The broker makes arrangements with the buyer’s lender, an attorney, and seller. The buyer and seller attend the closing which finalizes the sale.
In Arizona, the commercial real estate transactions require more complex steps than a residential transaction. The property must meet all specifications for the mortgage loan chosen by the buyer. All laws pertaining to the real estate transaction must be followed exactly. Dental professionals who want to sell dental practice in Arizona can contact website and schedule an appointment.