Sellers

  1. Remove any items not included in sale and replace, if necessary. 
  2. Review and accept or counter offer from Buyer. 
  3. Review all Sales Contract documents (provided by C&C). 
  4. Letter of transfer (introduction to patients) with Buyer’s approval (provided by C&C). 
  5. Contact Lessor regarding lease-assignment or new lease in Buyer’s name. 
  6. Set up meeting between employees and Buyer. 
  7. Employee Issues:
    • Prepare statement of all benefits due employees.
    • Avoid giving raises; allow Buyer to give raises.
    • Wind up retirement plan contributions (if applicable) to allow Buyer to come in with a clean slate.
    • Pay employees for any unused vacation/sick leave.
  8. Determine how Accounts Receivable will be collected (if not being purchased). 
  9. Pay off any credit balances to patients before the Close of Escrow. 
  10. Transfer any contracts relating to the practice to Buyer. 
  11. Transfer Seller’s unemployment rate to Buyer if beneficial to Buyer (see CPA) if, after closing date, Seller will not be paying payroll taxes in the State of California. 
  12. Provide a copy of your latest personal property tax statement. 
  13. Notify suppliers of transfer. 
  14. Transfer utilities into Buyer’s name. 
  15. Transfer telephone listing and domain name to Buyer. 
  16. Insurance – Obtain a copy of certificate of insurance for malpractice or tail policy, if applicable. 
  17. Cancel any insurance that will not be needed after the sale. 
  18. Notify Dental Board of California of the sale.