What role does escrow play in a dental practice transition? How does it benefit buyers and sellers alike? 

Should you use an escrow for your practice sale?

Matt Odgers is a Dental Attorney with Odgers Law Group and VP of Business Development and Legal Operations with Practice Orbit.

Matt has more than a decade of experience representing hundreds of dentists in the process of buying or selling a practice.

On this episode of the podcast, Matt joins host Wes Read to discuss the purpose of escrow in a private practice sale, beginning with the financial security it affords sellers.

Matt and Wes explain why buyers have a larger representation when an escrow is involved and how it significantly increases the probability of closing the deal.

Listen in to understand how an escrow agent helps move a dental practice transaction forward and learn when you can avoid using escrow vs. when it is necessary to protect you in a dental practice sale.

Topics Covered

What inspired Wes & Matt’s podcast series on dental practice transitions

How Practice Orbit simplifies the dental practice sale process

How using an escrow affords dental practice sellers financial security

Why the buyer has larger representation when an escrow is involved

Why Wes & Matt are advocates of earnest money in the escrow process

How escrow instructions should be built into the letter of intent 

How an escrow significantly increases the probability of closing a deal

The escrow agent’s role in moving a dental practice transaction forward 

How an escrow statement makes things easier from an accounting, tax and legal standpoint

When it makes sense to hold back a percentage of the purchase price in escrow (and release it to the seller after certain conditions are met)

When you might avoid using an escrow in a dental practice sale

Connect with Matt Odgers

Odgers Law Group

Email [email protected]

Connect with Wes Read

Practice Orbit

Email [email protected]

Practice CFO

Practice CFO on Instagram

Practice CFO on Facebook

Practice CFO on YouTube

Resources 

What You Need to Know About Submitting an LOI on DPS EP003

Must-Have vs. Nice-to-Have: Shaping the Terms of Your LOI on DPS EP004

Episode Promo Videos 

Video Promo 1

Video Promo 2