How is the office space handled?
If the seller owns the office space, it will either be sold or leased to the buyer. Therefore, this will be an additional negotiation. Many buyers would prefer to lease the space initially with either a right of first refusal or option to purchase. It will be easier for them to purchase the real estate once they have their feet on the ground in the practice. If the building is sold at the same time as the practice, it will take longer to complete the transaction and the buyer will probably need some of his own money for a down payment on the real estate. If the seller leases the space, he should talk with the landlord as soon as the practice is put on the market to be sure there will be no problems with a new doctor coming in. Lease complications with disinterested landlords (they generally have little or nothing to gain by a tenant transferring his business) can sometimes be a major roadblock to getting a practice sold. Once a transaction reaches a certain point “contracts are being p
