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Results for "Buyer FAQ"
Broker Tip – Why Do You Need A Valuation?
Why Do You Need A Valuation? A practice valuation determines Fair Market Value, the amount a buyer is willing to pay in the open market. A practice valuation determines Lending Value, which is the amount a bank is willing to… Read More
The Nuances of Veterinary Financing and Buyer Pre-Approval
With interest rates at an all-time low, it is a great time to buy a practice. In this article, I will explain what is expected of a buyer before their offer can be accepted to purchase a veterinary practice. To… Read More
Broker Tip – Veterinary Practices Are Resilient
It is unfortunate that so many businesses have been negatively impacted by COVID-19 nationwide. However, we have realized how resilient our veterinary profession has been in most parts of the country. This resiliency reinforces TPSG’s position that buying the right… Read More
Broker Tip – Buying A Practice With Real Estate
Buying A Practice With Real Estate: Once the letter of intent is signed, the buyer is required to have a building inspection, a real estate appraisal, and based on the bank’s requirements, a Phase One Environmental Study. These inspections must… Read More
Broker Tip – Who Gets What At Closing
Who Gets What at Closing: At closing, the buyer will receive all practice equipment and a specified amount of inventory. The seller will keep the balances of all personal and business bank accounts. Accounts receivable handling is determined by the… Read More
Are You Bankable?
The lending market for veterinarians is ever-evolving, with new banks and lenders looking to enter the market to assist veterinarians with their practice financing needs. In today’s lending environment veterinarians who are best prepared will receive the best financing available.… Read More
Questions That Come Up at Closing
Seller’s Note When selling a veterinary practice, the seller can expect to receive 100% of the negotiated price of the practice at closing. The lenders will also loan up to 80% of the negotiated/appraised real estate price, which typically leaves… Read More
The Difference Between an Associate Buy-In and Buy-Out
An Associate Buy-In is selling a portion of the practice to a current associate. This process has unique tax ramifications, distributing responsibilities, future buy-in options, and financing issues. Total Practice Solutions Group (TPSG) has the experience and knowledge to navigate… Read More
Broker Tip of the Month – July 2018
If you are in the market to buy a Veterinary Practice, it is important to understand that we have a very active market right now. Good practices sell fast. You should be prepared to move quickly on opportunities that fit… Read More
Broker Tip of the Month – July 2017
It is important to remember the capitalization rate is at the discretion of the evaluator. Important factors that determine one’s rate are location, growth of revenue stream, ability to transfer goodwill and demographics. Lower capitalization rates indicate greater risk to… Read More