Real Estate Math
A Florida property sold for $415,000. The seller paid a 6% commission and $2,400 in closing costs. The seller's original purchase price was $340,000. What was the seller's net profit?
A$47,700✓ Correct
B$45,300
C$40,545
D$49,500
Explanation
Commission = $415,000 × 6% = $24,900. Net proceeds = $415,000 − $24,900 − $2,400 = $387,700. Profit = $387,700 − $340,000 = $47,700.
Related Florida Real Estate Math Questions
- A Florida buyer obtains a $375,000 mortgage. The lender charges 1.5 discount points. What is the cost of the discount points?
- A Florida apartment complex has 24 units renting at $1,350/month. Annual vacancy loss is 5%. Annual operating expenses are $72,000. If the cap rate is 8%, what is the value?
- A Florida property sold for $560,000 with doc stamps on the deed at $0.70/$100. The intangible tax on a $448,000 note is $0.002/$1 (old rate, historical context). What are the doc stamps on the deed?
- A Florida investor purchases a 6-unit apartment building for $720,000. Each unit rents for $1,100/month. Annual operating expenses are $18,000. The cap rate is approximately:
- A Florida broker's office closed 36 transactions last year at an average sales price of $290,000 with a 5.5% commission split 50/50 between listing and buyer side. The office's total commission income was:
- A Florida investor purchases a commercial property for $1,200,000 using a 70% LTV loan. What is the loan amount and the required equity (down payment)?
- A Florida buyer puts 20% down on a $425,000 home. What is the loan amount and what are the doc stamps on the mortgage note ($0.35/$100)?
- A Florida property management company manages 15 properties. Average monthly rent per property is $1,800. The management fee is 10%. What are the total monthly management fees?
Practice More Florida Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Florida Quiz →