Seller Info

Virginia’s Dental Transition Experts

Commonwealth Transitions is the only locally based dental concierge services firm that specializes in dental practice transitions, advisory and temp staffing services in the great Commonwealth of Virginia.

With Commonwealth Transitions, you can be sure you are working with the best dental practice business professionals whom understand the local dental practice market since we are the only brokerage firm that is headquartered and solely focused on the state of Virginia. Contact us now to see how we can help you find the perfect buyer who understands your vision and dental practice philosophy and can help you achieve your transition goals.

The Steps of Your Transition

Step 1: Seller Contact

Contacting Commonwealth Transitions is the first step to transitioning your dental practice. Initial information is gathered and a Transition Advisor is assigned. This advisor will schedule a 30 minute consultation to discuss things like market conditions, doctor expectations on the value of their practice, and what to prepare for leading up to and after the sale. You will receive a sample listing agreement and a valuation packet, so that you can be prepared for the on-site visit.

Step 2: On-Site Visitation

This is the first opportunity for the Transition Advisor and the doctor to meet face-to-face. Expect a couple of things to occur during this visit:

Advisor will tour the office and take pictures
Advisor will first and foremost discuss and review you the sellers ideal transition
Review and discuss the practice valuation packet and how to achieve sellers goals

The doctor will also discuss their practice and treatment philosophy with the Transition Advisor. At Commonwealth Transitions we value relationships, and this will help us to find a philosophical match so that you can transition confidently.

Step 3: Valuation Process

Commonwealth Transitions will complete the main components of your dental practice valuation within 20 days of receiving the following information:

Signed listing agreement
Completed valuation packet
At least 3 years of tax returns
Production by provider codes

Step 4: Co-Author and Advertising

Now that the valuation process is completed, it is time to create the listing for your dental practice! You and your transition advisor will work together to draft an advertisement listing, and you will approve the ad before it is published. After approval, we will publish your ad in our network, Utilizing the largest local database of buyers in Virginia our first step to advertising will be to directly contact via email all pre-approved and registered buyers to alert them of your opportunity. In addition we advertise in our National database of partners associated in our affiliation with the National association of Practice Brokers (NAPB)

Step 5: NDA for Potential Buyer

We value your privacy and time! That’s why any buyer who sees your practice data is required to sign a non-disclosure agreement beforehand, and any buyer you meet will have already been pre-approved by a bank.

Step 6: Tour of Location and Introductions

This is one of the most important steps in your transition. Here, you will discuss dental practice philosophies with the buyer, while giving a tour of the office. This is vital, because we believe matching philosophies to be a key ingredient to every good transition.

If there is a match, then the buyer will present you with a Letter of Intent (LOI), indicating their interest in purchasing the practice along with a proposed closing date. Once you accept the LOI, the buyer is now into the process of making the purchase, which will include:

Contract term agreement
Formal bank approval
All other steps to close the sale

Step 7: Closing and Transitioning

Since no two dental practice transitions are the same, your Transition Advisor will work closely with you to make recommendations and advise you based on your specific transition. This advisor will work with you not only on closing the deal to purchase the dental practice, but also help with the process of handing over the practice and helping the buyer to build relationships with patients and staff.

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