Practice Purchase Terms

3 min. read

Here are some terms you may encounter when purchasing a practice.

Letter of Intent

A letter of intent is a non binding offer letter. Its purpose is to give the seller assurances of your sincerity and allow you to investigate the practice more thoroughly. You want to be sure to leave yourself a legal opening so, if you decide to back out, you can do it without penalty. The intent letter provides you with access to the records and should include a confidentiality clause.

The letter of intent will probably include:

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