Real Estate Math
A Louisiana property selling for $310,000 has an existing mortgage balance of $145,000. The seller's closing costs total $22,400. What are the seller's net proceeds?
A$142,600✓ Correct
B$122,600
C$165,000
D$132,600
Explanation
Net proceeds = Sale price − Mortgage payoff − Closing costs = $310,000 − $145,000 − $22,400 = $142,600.
Related Louisiana Real Estate Math Questions
- A building has 8 apartments each renting for $950 per month. The annual vacancy rate is 5%. What is the effective gross annual income?
- A real estate salesperson earns 60% of the commission paid to their broker. If the property sold for $195,000 at a 5.5% commission rate, how much does the salesperson earn?
- A property's assessed value is $80,000. The homestead exemption reduces assessed value by $75,000. At 95 mills, what are the annual taxes?
- A property generates $3,200 per month in rent. The cap rate is 6%. What is the estimated annual value of the property?
- A property sold for $265,000 at 5.5% commission. The listing and selling brokers split the commission equally and each broker pays their salesperson 50%. How much does the selling salesperson earn?
- A Louisiana commercial property has an effective gross income of $95,000 and operating expenses of $38,000. What is the operating expense ratio?
- An investor buys a Louisiana property for $280,000 and finances $224,000. What is the loan-to-value (LTV) ratio?
- A rental property generates $2,500 per month in gross rent. The GRM in the market is 120. What is the estimated property value?
Practice More Louisiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Louisiana Quiz →