Real Estate MathAdvancedDelaware Exam
A Delaware seller owes $145,000 on their mortgage and wants to net $85,000 after a 6% commission and $3,000 in closing costs. What must the property sell for?
A$237,234
B$233,000
C$253,191
D$249,000Correct
Why $249,000 Is Correct
Answer D: $249,000
Net to seller = Sale Price − Commission − Closing Costs − Mortgage. Sale Price × (1 − 0.
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.
Key Real Estate Math Terms in This Question
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