A homeowner wants to net $310,000 after paying a 6% commission. What must the property sell for?
Why $329,787 Is Correct
Answer B: $329,787
Exam Tip: Real Estate Math
Math questions are formula-based. Memorize the key formulas: commission splits, proration, cap rate (NOI ÷ Value), GRM (Price ÷ Gross Rent), and LTV (Loan ÷ Value). Practice converting between annual and monthly figures.
People Also Study
Related Alaska Questions
- A buyer in Alaska paid $345,000 for a home and wants to net $400,000 after a 5% commission when they eventually sell. What minimum sale price must they achieve?Real Estate Math
- An Alaska property owner wants to net $280,000 after paying a 6% commission. What must the minimum sale price be?Real Estate Math
- In Alaska, a seller paid $415,000 for a property. They want to sell it for a price that will return 8% profit after paying a 6% commission. What is the minimum sale price?Real Estate Math
- A seller wants to net $225,000 after paying a 6% commission. What must the property sell for (rounded to the nearest dollar)?Real Estate Math
- A buyer's agent in Alaska negotiates a lower price for the buyer. The agent's commission is based on the sale price. If a lower price means less commission, this creates a potential:Agency
- An Alaska appraiser determines that comparable sales need a 'market conditions adjustment' of +2% per year due to price appreciation. For a sale that closed 18 months ago at $400,000, the time-adjusted price is approximately:Property Valuation
Key Terms to Know
The gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
Debt-to-Income Ratio (DTI)A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
Math Concepts
Study This Topic
Practice More Alaska Real Estate Questions
1,400+ questions covering all exam topics. Start free — no signup required.
Take the Free Alaska Quiz →