FAQ

Frequently Asked Questions


	• What is DentalAssets? DentalAssets is the only online auction tool designed exclusively for Dentists.
	• What is the difference between DentalAssets and other dental brokerage auction companies? One key difference is the fee structure. Being an entirely online auction platform, DentalAssets offers the lowest fee structure available today! The other key difference is how DentalAssets auctions are marketed. Successful auctions depend on successful marketing, and DentalAssets strongly believes that our team members are best equipped to reach the correct buyer pool. Although other auction companies claim to assist the seller with marketing to justify the higher fee structure, no single auction company can possibly understand the broad range of dental practice types and markets as well as us.
	• What are the advantages of using online auctions to sell Dental Practices? Auctions create deadlines. In a stagnant market, auctions get the buyers off of the sidelines and into the game. Buyers understand that they have a limited window of opportunity to obtain a specific practice or dental equipment that they will acquire for the practice at the best possible price. They also appreciate the transparency of the online bidding process, plus all the security, confidentiality and easy access of the process.
	• What types of practices are sold via Auctions? DentalAssets has specifically designed for the Dental community. Practices may be leasehold opportunities, FSBO’s (for sale by owners), established practices, bank-owned properties, commertial building with or without the practice. Additionally, dental equipment may be sold a package or individually.

Setting up your auction


	• What happens when I register with DentalAssets? Registration is free it takes just a minute, and you’re ready to you to start an auction and sell / buy your practice.
	• Once I register, who will have access to my personal information? DentalAssets respects the privacy of its registered users. Please see DentalAssets Privacy Policy. Our auction site is a secure site for your protection.
	• How do I start an auction? Setting up an auction is simple. You will then have the opportunity to input auction information, practice details, your contact information and company logo, as well as due diligence materials. You can also get started by calling us at (949)548-4559 or emailing us at sales@DentalAssets.com. Our expert support staff is available to you every step of the way, and can help guide you through the process of providing the necessary information. You may also refer to our “How To” section under Tools as well as under Buyers and Sellers on the menu bar for a clear description as to how this works.
	• What is the Starting Bid? The Starting Bid is the lowest price at which your practice can be sold. Bids below this amount will not be accepted. A low Starting Bid will attract a greater pool of potential buyers, typically resulting in a higher final price. Sellers have a secret hidden reserve price which is the lowest amount that the asset will be approved to sell to a bidder. If this reserve is met or exceeded during the auction, the sale is final.
	• What is the Original Asking Price? The Original Asking Price is the initial price that was set for the property and is displayed in the upper left corner of the Auction Room. The higher the Original Asking Price relative to the Starting Bid, the more compelling the auction will be to the potential buyers.
	• What is the Winner’s Deposit? The Winner's Deposit is a non-refundable deposit of $500(non-refundable transaction fee) charged to the winning bidder. It can be provided via credit card authorization.

Before the auction


	• How is a DentalAssets marketed? In addition to ongoing marketing efforts and an existing buyer base exceeding 50,000 dentists, DentalAssets has strategic partners that extend the marketing reach to capture the attention of additional buyers nationwide. Keep an eye out for our ads / inserts in the Dental Shopper and Online as well as the many eblasts that are sent out when a new sale event occurs.
	• Can I contact the people who register to bid directly? As soon as we have verified the winning bidder, we will pass along their information to you. It is then up to you to verify that this bidder is bank approved and able to complete the transaction.
	• Can potential buyers inspect the practice before the auction? Yes. DentalAssets encourages you to contact us for personal tours of the practice. Don’t have the time? Visit us on the web www.DentalAssets.com for pictures, profile and more information about the practice. Not enough information? Call today and we will email you a video link (if available) on the practice.


	• What can I expect on auction day? You will have the opportunity to log-on to your DentalAssets.com account and observe the bidding “live”. Both during and after the auction, you will have access to the full bidding history.
	• Is the seller obligated to sell the property at the starting bid price? No. The seller agrees to sell the property when and if a bid reaches their hidden reserve price. There may be occasions that the seller's reserve price is very close to the starting bid price.
	• Can the seller submit bids? The seller is prevented from submitting bids on the property, based on the Terms and Conditions agreed to by the seller in the set-up of the auction.
	• How do I get a signed Purchase Agreement? When the auction is over, the winning bidder information and price are incorporated into the Purchase Agreement and must be signed by the buyer and seller within two (2) business days.
	• How long does the auction last? Each sale event may have different starting and ending times.View each event and notice the end date with the count down of days/hours/minutes.
	• How do I watch the auction? You simply log-in to your account and enter the auction room.

After the auction


	• What happens when the auction is over? DentalAssets staff will coordinate with both parties to successfully reach an executed Purchase Agreement within two (2) business days
	• When will the transaction close? The closing date should occur as detailed in the Purchase Agreement. Standard escrow is 30 days.
	• What is a Buyer's Premium? DentalAssets collects a buyer’s premium from the winning bidder at the close of escrow. The buyer’s premium is based upon a percentage of the winning bid amount. This percentage is set in advance of the auction based on the property’s estimated sale price. Please see our fee schedule for more information.
	• How is the Winner’s Deposit collected? The Winner’s deposit will be charged upon winning the auction. $500 will be charged to the credit card on file. This is non-refundable and will be deducted from the balance of the Buyers Premium in escrow.
	• How do I watch the auction? You simply log-in to your account and enter the auction room.