Alternatively, you can write a letter of explanation on the problematic credit issues, so that later on you can give it to a prospective lender along with your completed loan application form. The second step is to identify the market where you want to practice and live. They do this to be close to family, high school or college friends, major entertainment and shopping centers, the dental school they attended, major airports, and the like. Rural markets are chosen less frequently. Cash flow improves because of reductions in rent and staff salary expense.
Market value declines because there are fewer buyers for rural practices.
Dentists in rural markets often realize a larger disposable income, a larger personal savings rate, and an earlier retirement than their counterparts in urban and suburban practices. Since most dental practices are sold with broker assistance, serious buyers will want to get in touch with a broker in the markets where they are interested in practicing. Practice brokers typically work in limited geographic areas where they have a unique familiarity and understanding of the local dental market. They charge a commission or a fee, which is paid by the seller, for the sale of the practice. With the advent of the Internet, a dentist can get on-line and shop broker listings of practices all over the nation.