Real Estate Math
An Indiana buyer offers $320,000 with a $15,000 earnest money deposit. The loan amount is $272,000. How much cash does the buyer bring to closing (excluding prepaid items and closing costs)?
A$15,000
B$33,000✓ Correct
C$48,000
D$62,000
Explanation
Down payment = $320,000 − $272,000 = $48,000. Cash at closing = Down payment − Earnest money already paid = $48,000 − $15,000 = $33,000.
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