This post recaps the three-episode arc from Season 8 of the Practice Purchase Podcast, where we tell the true story of Dr. E, a first-time buyer who navigated a broker curveball, negotiated smart, and closed on a practice that fit her life and her goals.
Dr. E didn’t just want to buy a practice. She wanted the right one, a practice she could grow into, not out of.
She found it in St. Joseph, Missouri. Seven operatories, bread-and-butter services, good layout, real estate for sale. On paper, a solid fit. But the deal itself came with a few twists that could have derailed the purchase.
With help from the team at Dental Buyer Advocates, Dr. E kept things moving forward and saved money, stress, and a lot of what-ifs in the process.
The Asking Price Mix-Up
When Dr. E’s team requested documents, the broker verbally quoted an asking price of $700,000. But the written prospectus said $750,000.
“I say, I have an email here that says the asking price is 700,000 that you sent to our analyst,” said Dr. Sapna Amin, Dr. E’s lead advisor on the deal. “So now where do we go from here?”
Despite some initial back-and-forth, the seller eventually agreed to a middle ground. The final price landed at $715,000.
“That was 35 grand in savings just on the asking price. That’s a Big deal.” – Brian Hanks
The Real Estate Roadblock
The broker also insisted that the real estate be included in the deal, and that everything close by the end of the year. The problem was that Dr. E had a 90-day notice requirement at her current job, and a financial penalty if she left early.
“It was a little bit of a strain on him,” Dr. Amin explained, referring to Dr. E’s finances at the time. “He could make it happen if it meant he was going to lose the practice. But it didn’t make sense math-wise if he had the option to wait.”
The solution: Dr. E would lease the building for 12 months, with a first right of refusal to buy after that period. This gave her time to stabilize cash flow and save up for a real estate down payment without walking away from the deal.
Timing It Right
Dr. E officially closed on the practice in January 2025, avoiding the job penalty and giving herself a clean start.
“We had plenty of time to close by end of year,” said Brian Tomono, who manages deal closings at DBA. “But the buyer had personal interest in closing in the new year.”
When asked what advice he gives to buyers with long notice periods, Tomono emphasized patience.
“These transitions have a lot of twists and turns, if you give notice too early, there are a dozen things that can go sideways and leave you stuck without a paycheck or a practice.” – Brian Tomono
Key Takeaways from Dr. E’s Story
1. “Hurry up and submit an LOI” is not a strategy.
The broker claimed there were “three other offers” and pushed for a quick letter of intent before full financials were available. Dr. E’s team pushed back and got what they needed first.
2. Verbal numbers don’t count.
An email saying “asking price is 700” saved Dr. E from overpaying by $35,000. Always get things in writing.
3. You don’t have to buy the building upfront.
A lease with a right of first refusal gave Dr. E time and flexibility. It prevented her from taking on too much risk at once.
4. Closing dates matter.
Dr. E closed in January to avoid a major penalty. Align your deal timeline with your current job contract before giving notice.
5. A good advisor can save the deal and your sanity.
This wasn’t a horror story, just a real one. Having someone who knew when to say “not yet” made all the difference.
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