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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Finance
Satisfied Customers: 41220
Experience:  NASD Licensed Rep, 1997-2001, Business Attorney
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I am a retiring Dentist whose practice and dental office has

Resolved Question:

I am a retiring Dentist whose practice and dental office has been appraised at $845,000 - The office building at $470,000 and the practice at $375,000. I am willing to sell the practice and real estate to my stepson (also a Dentist) at the price of $730,000 with nothing down, and carry the paper for 15 years at 3% interest. I have one other interested buyer, who wants to pay cash, but I am afraid of the tax consequences. If I sell to my son, what would be the monthly payments?
Submitted: 3 years ago.
Category: Finance
Expert:  Dimitry K., Esq. replied 3 years ago.

Thank you for your question. Please permit me to assist you with your concerns.

Taking into consideration that you are looking at a $730,000 price for the business, and considering that you wish to carry the loan for 15 years, the monthly payment ends up being $5,041.25 with the full amount paid out to you of $907,424.28.

Hope that helps and please let me know how else I can assist you.

Dimitry K., Esq., Attorney
Category: Finance
Satisfied Customers: 41220
Experience: NASD Licensed Rep, 1997-2001, Business Attorney
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