Real Estate Math
Delaware's realty transfer tax is 3% of the purchase price, split equally. How much does the buyer pay in transfer tax on a $340,000 sale?
A$5,100✓ Correct
B$10,200
C$6,120
D$3,400
Explanation
Total transfer tax = $340,000 × 0.03 = $10,200.
Related Delaware Real Estate Math Questions
- A Delaware lot is described as 150 feet × 200 feet. The buyer pays $4.50 per square foot. What is the purchase price?
- A Delaware seller wants to net exactly $250,000 after paying off a $175,000 mortgage and closing costs of $8,500. The agent charges a 5.5% commission. What minimum sale price is needed?
- A Delaware homeowner sells their home for $425,000 after owning it for 5 years. Original purchase price was $330,000. Selling costs total $28,000. What is the net gain?
- A Delaware buyer puts 5% down on a $320,000 home. The lender requires PMI at an annual rate of 0.85% of the original loan amount. What is the annual PMI premium?
- A Delaware commercial building has 10,000 sq ft of rentable space. The annual rent is $18 per sq ft. What is the annual gross rental income?
- A Delaware buyer closes on May 31. The seller has not yet paid the annual property taxes of $5,400 (paid in arrears). How much does the seller owe the buyer in tax proration (using a 365-day year)?
- A Delaware property has potential gross income of $120,000 per year. With a 6% vacancy rate and a 40% operating expense ratio, what is the NOI?
- A Delaware property's land is worth $75,000 and the improvements have a replacement cost of $280,000. Accumulated depreciation on improvements is $42,000. What is the property's indicated value by cost approach?
Practice More Delaware Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Delaware Quiz →