Real Estate Math
A seller nets $198,000 after paying a 6% commission. What was the sale price of the property?
A$207,480
B$198,000✓ Correct
C$204,000
D$211,702
Explanation
Net proceeds = Sale price × (1 - commission rate). $198,000 = Sale price × 0.
Related Alabama Real Estate Math Questions
- A building has a gross annual income of $120,000, vacancy and collection loss of 8%, and operating expenses of $35,000. What is the net operating income (NOI)?
- A property was purchased for $180,000 three years ago. It has appreciated 5% per year (simple). What is its current value?
- Alabama property has an assessed value of $18,000 (at 10% of market value). The tax rate is 50 mills. What is the annual property tax?
- A rectangular lot measures 200 feet by 150 feet. What is the lot's area in acres? (1 acre = 43,560 sq ft)
- An Alabama income property has a gross income of $60,000, vacancy losses of $3,000, and operating expenses of $22,000. What is the NOI?
- A property was purchased for $180,000 and sold 3 years later for $216,000. What was the percentage gain?
- A property sold for $262,500. The assessed value is $175,000. What is the assessment ratio?
- A buyer puts 15% down on a $340,000 home. What is the loan amount?
Practice More Alabama Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Alabama Quiz →