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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

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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?

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.

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