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FAQ

1. How much will it cost to market my practice?
   
   We will come to visit you at the practice, at a time convenient to you and conduct a practice appraisal. This is completely free. The only time that we charge you a fee is if we are successful in selling your practice and this is calculated as a percentage of the sale price.
   
   
2. How are practices valued?
   
   There are three elements that make up the price of a practice The Bricks and Mortar (if freehold), the Fixtures, Fittings and Equipment and the Goodwill.
   
   
3. What happens to my Stock?
   
   Stock levels fluctuate a good deal throughout the process. Usually, stock will be purchased separately by the buyer at the point of completion when an accurate stock take can be done.
   
   
4. What is Goodwill?
   
   Goodwill relates to the value of the business. It is usually calculated as a percentage of turnover, but can also be based on a multiple of net profit. It takes into account the location of the practice, how long established it is profitability etc.
   
   
5. How long will it take to sell my practice?
   
   This varies practice to practice, however, as a general rule of thumb we would allow between 1 and 3 months for marketing and a further 3 to 4 months for the legal process.
   
   
6. How do you vet the Buyers?
   
   Each of our buyers signs a ‘Buyer Agreement’ with us. This commits them to 3 main things. One is to allow us to check them financially, the second is their agreement to our deposit structure, but most importantly it commits them to confidentiality. We appreciate that most practice sales are confidential and we take this very seriously at MediEstates.
   
   
7. I work until 5pm every day, when can I speak with you?
   
   Our offices are manned between 8.30am and 9.00pm Monday to Thursday and 8.30am til 5pm on Friday. We can speak with you outside of surgery hours, which is of particular benefit if your sale is confidential.
   
   
8. Can I use my family solicitor?
   
   It is entirely up to you which solicitor you wish to use. We strongly recommend using a specialist dental solicitor as they have more in-depth knowledge of issues that may be raised during a practice sale. We have a panel of specialist solicitors that we can refer you to if required.
   
   

1. Do you charge a fee?
   
   It is free to register with us. If you remain as one of our General Market buyers you will not incur any fees. We have two additional tiers, which are offered to our serious prospective buyers, for these there is a fee on completion but no annual or monthly membership fees chargeable.
   
   
2. How will you let me know about practice sales?
   
   We understand that you will probably be working during normal office hours. We will send you an email to let you know about new practice sales, but we will also try to contact you by ‘phone. Our offices are open until 9pm Monday – Thursday so you can speak with us when it’s convenient to you.
   
   
3. What happens when my offer is accepted?
   
   Once you have had your offer on a practice accepted by the vendor, we will ask you to sign our deposit schedule and pay a 1% deposit. This is held in our client account and returned to you on completion. Once we have these, we will cease marketing the practice and advise you to instruct a solicitor.
   
   
4. How are NHS contracts transferred?
   
   The exiting practitioner would need to contact the PCT to advise them of his intentions. A meeting will then be arranged for the Commissioning Manager to meet with both parties and will seek a CRB check for the incoming practitioner. Once this is done, they will arrange for the current contract to be cancelled and a new one issued to the buyer. The PCT will not usually transfer a contract but would re-commission to the incoming practitioner.