Selling A Practice
- Introduction
- When is the right time to sell my practice?
- How can I find a buyer for my practice?
- What will it cost me to sell my practice?
- What do Myers La Roche do to earn their fee?
- How can I be sure that my buyer is genuine?
- Does Myers La Roche maintain a waiting list?
- What information will I need to collate to sell my practice?
How can I be sure that my buyer is genuine?
We try hard to ensure that prospective purchasers are fit and proper persons who will be able to finance their proposed purchase, be acceptable to your landlord and, in due course, complete the agreed deal. However, as in any walk of life, there are disreputable people who purport to be interested in purchasing a practice at an agreed price but in reality have no intention of so doing. Unfortunately, appearances can be deceptive!
To minimise problems, we do not wait for solicitors to take up references. Instead, as soon as an offer is accepted, we take up the prospective purchasers references from their own bank. We also follow up trade, and if appropriate, personal references. Of course many prospects are already known to your consultants at Myers La Roche because they already have established credentials.
We also maintain the 'Client Protection Register'. This contains the details of persons or firms:
- Who have acted unprofessionally, irresponsibly or recklessly in the past; or
- Who have breached the terms of the Confidentiality Agreement; or
- Who have passed sensitive information to others; or.
- Who have submitted a bogus offer or withdrawn an offer without good reason; or
- Are a poor credit risk; or
- Have previous criminal or civil convictions which should be disclosed; or
- Are barred from practice by the GOC or the AOI; or
- Are have been listed on the UK / Irish Sex Offenders Register.