Buying or selling a dental practice? Cirrus can help!
There’s so much at stake through the process of buying or selling a dental practice. Prior to completing your purchase or sale, it’s important to have the dental office lease properly reviewed for risks, and that the ‘Assignment of the Lease’ occur properly, protecting the interests of both parties along the way.
We offer Practice Assignment and Lease Acquisition consulting services to ensure our dentists are well prepared for any lease transition. Protect yourself and your investment, and let our dental leasing experts help you through this critical and detail-sensitive step in your dental career.
Important things to consider when buying or selling a dental practice
When a dental practice changes ownership, so must the lease agreement; it needs to move from the name and control of the selling dentist, to the name and control of the buying dentist. Some key items to keep in mind when buying or selling a dental practice are:
Will you be liable for the property rent even after selling or transferring the practice?
- Has the lease been signed under your personal name?
- Is there anything in your lease that directly affects your ability to transfer or sell your practice?
- Does the lease have enough term and options to renew left for you to use after you buy the practice? Are you sure those options to renew are available to you? Often these options disappear as soon as one tenant assigns the lease to another dentist.
- Is the lease set up with enough flexibility to bring in associates or eventually sell your dental practice?
- Does the landlord have the right to relocate your practice?
- Does the landlord have the right to terminate your lease, and kick you out of the building?
85% of dentists across North America have a dental lease that may inhibit them from ever selling their dental practice.
20% of dentists in North America lose their ability to sell their dental practice each year.
75% of dentists have a lease that prevents them from ever getting to the end of their career in their current location, being forced by the landlord to relocate!
For a smooth and risk-free dental practice assignment or lease acquisition, it’s critical that your lease agreement, and the terms and clauses within it, are set up to protect your investment well into the future. Trust the experts at Cirrus!
Why Choose Us?
We’ve helped thousands of dentists save hundreds of thousands of dollars in mistakes in their lease, while improving the value of their practices.
We’ve been negotiating dental office leases since 1994.
We were founded by dentists, for dentists; who better to represent you?
We offer our clients the full package, inclusive of the support of an in-house legal team, professional Lease Negotiators, real estate analysts, brokers, and ex-landlords; we’ve got you covered!