In a strict definition, a letter of intent (LOI) is simply a legally non-binding offer to buy a practice from a seller. You’re simply telling a seller, “I want to buy your practice for this much money on this date with these broad terms spelled out.” The main purpose of the LOI is two-fold. First, […]
Category Archives: Letter of Intent
Submitting a letter of intent is a big step in the dental practice purchase process. At a minimum, it typically starts a negotiation process that can lead to your buying a practice. But ultimately, it’s the offer you hope gets accepted. I talked about what a letter of intent should include in an earlier post. But how […]
When buying a dental practice, how do you know what to do after signing the letter of intent? Almost always, there is a period of time between when you’ve negotiated the letter of intent and when you walk through the front doors of your new practice, keys in hand, as the brand new owner. Picture […]
When buying a dental practice, one of the most important documents in the process is the Letter of Intent (or LOI, for short). The letter of intent is the legally non-binding document that contains all the elements of the practice transition that you have negotiated with the seller. The letter of intent saves you money […]