Real Estate Math
A Colorado buyer puts 10% down on a $450,000 home. The transfer tax is 0.01% of the sale price. How much is the transfer tax?
A$4.50
B$45.00✓ Correct
C$450.00
D$4,500.00
Explanation
Transfer tax = $450,000 × 0.0001 = $45.00. Colorado's state documentary fee is $0.01 per $100 of the purchase price (0.01%), so for a $450,000 home, the fee is $45.
Related Colorado Real Estate Math Questions
- A Colorado buyer's loan is $385,000 at 6% for 30 years. Using the factor of $6.00 per $1,000 (approximate), what is the monthly payment?
- A Colorado property's income increased from $75,000 to $82,500. What is the percentage increase?
- A Colorado investment property is purchased for $500,000. The investor requires an 8% cash-on-cash return on a $125,000 down payment. What annual cash flow is needed?
- A Colorado property has an annual property tax of $4,800. If the assessment ratio is 7.15% and the mill levy is 80 mills, what is the actual (market) value of the property?
- A Colorado buyer is purchasing a $345,000 home and must bring 4% cash to closing (down payment plus closing costs). How much cash must the buyer bring?
- A Colorado property has NOI of $90,000 and an asking price of $1,200,000. What is the cap rate?
- A Colorado listing agreement states the broker will receive 6% of the first $300,000 and 4% on any amount over $300,000. If the property sells for $450,000, what is the total commission?
- A Colorado buyer earns $8,500/month gross income. Using a 43% maximum total DTI ratio, what is the maximum total monthly debt payment allowed (including PITI)?
Practice More Colorado Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Colorado Quiz →