For parties interested in a hassle-free, inexpensive, fair and neutral practice transition, our Dual Representation consulting service is the best option. Dual Representation is made possible by mutual agreement of the parties involved provided the advisor agrees to adhere to a neutral, non-partisan position.
Dual Representation of the Buyer & Seller
Our role will be that of a transition planner / mediator / educator. We will consult with both parties to determine the various options available and the respective effects of those options on the overall transition plan. Each party will know step-by-step where they are advantaged or disadvantaged in any given situation and it will be our job to even-up those advantages and disadvantages over the course of the entire transition. We will consult with the practice accountant and attorney to make sure the plan meets their requirements as well. The end result is the highest quality transition plan available anywhere.
Consulting fees for Dual Representation
The consulting fees associated with Dual Representation are split equally between the Buyer and Seller (with an exception made for the Practice Appraisal, which is the Seller’s responsibility). Our consulting fees for Dual Representation are as follows:
| Service | Total Fee | Buyer’s Portion | Seller’s Portion |
|---|---|---|---|
| Practice Appraisal | $7,500 | $0 | $7,500 |
| Purchase & Sale Documents | $24,500 | $12,250 | $12,250 |
| Total Cost | $32,000 | $12,250 | $19,750 |
* If your transition does not involve an Associate Period or a Post-closing Employment Period for the Seller, then there will not be an Employment Agreement. The consulting fee for the Employment Agreements exists only if your transition requires one. All Employment Agreements required for your transition are covered by this one consulting fee.
Note: The practice is solely responsible for all consulting fees and all consulting fees are due at the time they are invoiced. The Buyer shall reimburse the Seller for the Buyer’s half of the consulting fees. This reimbursement shall occur at Closing or shall be deducted from the Buyer’s portion of the net practice income (pre-tax) over the first six (6) months of employment.