Selling your Dental Practice
An experienced dental practice appraiser is needed to determine the Fair Market Value of your business before it is placed on the market. From the appraisal, the correct information is extracted to prepare “Marketing Packets” to provide to prospective buyers. The eventual buyer will provide the lending institution with the practice details to obtain financing.
Financing a Practice
Financial institutions require specific information about the subject practice to determine the feasibility of a loan to the buyer. The information provided must show that the practice will “make the payments.”
Estate Planning
To protect your practice and estate an appraisal is required by your financial advisor/estate planning Attorney. Without this guidance, estate taxes could become a burden and in the event of your death or disability it is very possible your personal advisors would have no idea of the practice’s market value. A delay in determining where to obtain a professional opinion could result in heavy losses to your family/estate.
Divorce
An amicable divorce is typically an oxymoron. Proper preparation, depending up on the home state of the practice, may require a complete Practice Appraisal. Confirm this with your attorney.
Entity Formation/Dissolution
A Practice Appraisal is normally required for each practice. It is impossible to fairly create or effect a merge or partnership of some sort without complete financial and operational details of the parties involved. Obviously, the need for a Practice Appraisal is required for the same reason with a dissolution.
Buy/Sell Agreements
Entity formations require a dental practice appraisal. Opinions of Value are typically used every few years, if not annually, to be assured the Buy/Sell Agreements within an entity are fair and true to market value.
Request an Appraisal
To request a Practice Appraisal, complete the form below or call Hemmen & Associates at (309) 517-3023.