Step One: Buyer searches practices
Complete a user profile by filling in some basic information
Search practices and view highlight information about each practice
Participate in a fifteen-minute video-meeting strategy session with a Practice Orbit representative
Perform an identity verification using quick and easy-to-use software.
Invite your team to be attached to your practice in Practice Orbit (e.g. Accountant, Lawyer, Outside Broker).
This allows buyers to:
- View in-depth information about practices
- Choose to start the NDA process with sellers
Step Two: Sign a Non-Disclosure Agreement (NDA)
- Is sent an NDA for this practice, which they sign
Once the NDA is counter-signed by the Seller, the Buyer may:
View additional information about the practice
Communicate directly with the Seller
Step Three: Buyer chooses practice to purchase
- Indicate a desire to purchase the practice
Step Four: Buyer and Seller sign a Letter of Intent (LOI)
- Receive an LOI from the Seller
- Indicate that either the LOI is accepted or you wish to negotiate the terms
Seller & Buyer
If the Buyer indicated a desire to negotiate the terms, the Buyer and Seller negotiate until they agree on the terms
The Seller may update the LOI with the negotiated terms and re-send to the Buyer
Buyer signs, then the Seller co-signs, the LOI
Note: After this point, either the Seller or Buyer are free to terminate the LOI, and both are then free to continue a sale with other people.