An Alaska property sold for $315,000, which was 5% more than the original listing price. What was the original listing price?
Why $300,000 Is Correct
Answer C: $300,000
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 listing expires without a sale. Three weeks later, the seller accepts an offer from a buyer who was shown the property by the original agent during the listing period. Under most Alaska listing agreements, the seller may owe a commission if:Agency
- An Alaska home sold at a 4% loss for $312,000. What was the original purchase price?Real Estate Math
- An Alaska broker receives a 6% commission on a sale. The broker pays the listing salesperson 50% and the selling salesperson 40% of their respective halves. The sale price is $480,000. How much does the selling salesperson earn?Real Estate Math
- An Alaska agent lists a property for 90 days. The property sells on day 72. The listing broker receives $24,000. If the total commission was 5%, what was the sale price?Real Estate Math
- An Alaska property sold for $395,000. The buyer made a 20% down payment. Transfer tax in the municipality is $3.50 per $1,000 of sale price. What is the transfer tax?Real Estate Math
- An Alaska seller's agent receives an offer well below the listing price. The agent should:Agency
- An Alaska appraiser adjusts a comparable sale downward by $10,000 because the comparable has a garage and the subject does not. This adjustment suggests the market values a garage at approximately:Property Valuation
- An appraiser in Alaska determines a comparable property sold in an estate sale at 10% below market value. To use this comparable, the appraiser should make: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.
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 →