Are you considering selling your dental practice but don’t have the right team in place to support you? Are you nervous that buyers won’t see your listing and you’ll have to drop your asking price to get it noticed? Your dental practice transition experience doesn’t have to be that way.
During COVID Dr. Cho and his family decided that they wanted to be closer to their family in California and needed to sell his practice in Princeton, TX.
Dr. Cho had sold his house and his family had relocated back to California so timing of a quick transaction at still an aggressive price was paramount. Due to the quick timing, a buyer utilizing lending was not an option, therefore Dr. Cho needed a cash buyer that had an acquisition team who could perform due diligence efficiently and close quickly without requiring Dr. Cho to stay on for a long transition period.
Dr. Cho hired Xite Practice Sales due to their national reach servicing clients out of five offices in Dallas, Houston, Austin, San Antonio and Orlando and represents dentist in over 150+ transactions per year and has the largest database of qualified buyers in the US.
Tommy Newton and his team identified and negotiated a transition with a 30+ location dental group who could close on the practice with cash in 60 days at full asking price. Ordinarily a group of this size would require the seller to stay on for 2-5 years, but due to Xite’s leverage in the market and the ability to negotiate a creative deal structure with the buyer, Dr. Cho was able to transition out of the practice in 45 days.
Are you ready to list your practice?
Talk with the experts at Xite to get the most for your practice. Contact us for a free practice evaluation today.
About Xite Acquisitions
Xite Acquisitions specializes in selling dental practices with the power of its in-house team working together: legal, marketing, demographics, and real estate, which creates optimal and effective dental practice transitions.