Selling Dental Practices
EMA Dental Practice Sales
(formerly
Evan Myers and Associates)
("EMA")
usually represents the seller in the sale of the
business. EMA participates in, at no obligation to the
buyer, initial interviews, consultations with banks,
attorneys or other advisors assisting the buyer. EMA
can represent the buyer's interest when the buyer has
identified an appropriate practice for purchase and
requests the assistance of EMA to complete the
transaction. EMA will not knowingly make false
representations, or in any way mislead the buyer,
because we are working on behalf of the seller.
EMA will
NOT under any circumstance, represent both the seller and buyer in the same transaction. EMA will
NOT create, or allow to be created, a situation in which
we could collect commissions or fees from both parties. EMA will provide consultation for, and thereby receive compensation from, both parties on an hourly basis if
we have no financial stake in the outcome of the purchase negotiations.
SERVICES:
EMA will assist the seller in the drafting of the purchase contract. Final preparation of the sale document is the responsibility of the seller. If
EMA is requested to offer a referral to an attorney for this preparation, the attorney will bill the seller separately. When tax accounting is required,
EMA can make recommendations to qualified C.P.A.'s, who will then also bill the seller directly. Cash flow projections and bank applications, can be prepared by professionals that
EMA will recommend to the buyer. These will also be prepared at the buyers expense, and billed by the preparer.
FEES:
Sales commissions are the greater of $10,000.00 or 10% of the selling price of the practice. Selling price is deemed to mean the contracted price, the cash, notes, and any other compensation that is part of the transaction. Sales commissions are due and paid to EMA at the closing, from the proceeds of the sale, unless other arrangements have been agreed upon prior to the closing. The contingency fee is based on completion of the transaction. The fee is not an expression of the value provided through time spent, nor related to expenses or costs incurred during the process.
COSTS:
EMA will be responsible for all costs incurred for
services provided. Advertising, promotion, travel expenses, telephone and other such costs are not carried over to the clients EMA may serve.
