Real Estate Math

A Maine buyer makes an offer 8% below the list price of $375,000. The offer price is:

A$330,000

B$339,000

C$345,000✓ Correct

D$350,000

Explanation

Discount = $375,000 × 8% = $30,000. Offer = $375,000 − $30,000 = $345,000. To solve this, multiply the relevant values: $375,000 at 8%.. The correct answer is $345,000.. This is a common calculation on the Maine real estate exam.

Related Maine Real Estate Math Questions

A Maine homeowner refinances from a $250,000, 30-year loan at 7% (payment $1,663/month) to a $250,000, 20-year loan at 5.5%. If the new payment is $1,714/month, how much extra principal is paid over the old loan in the first year?
A Maine homeowner's mortgage has a principal balance of $180,000 at 6% interest. After the first payment of $1,079.19, how much principal was paid?
A Maine property's NOI is $72,000. Operating expenses including vacancy equal 40% of potential gross income. What is the potential gross income?
A Maine commercial property has a potential gross income of $200,000, vacancy of 5%, and operating expenses of $70,000. Using a 7% cap rate, the estimated value is:
A Maine investment property has a net operating income of $54,000 and annual debt service of $42,000. The annual cash flow before taxes is:
A Maine property management company charges 9% of collected rents plus a $200 monthly management fee. On a month with $8,500 in collected rents, the total management cost is:
A Maine home purchased for $195,000 with a 90% LTV loan has monthly taxes of $325 and monthly insurance of $110. The principal and interest payment is $1,180. The total PITI payment is:
A Maine property investor's debt service on a $400,000 property loan is $2,800/month. The monthly NOI is $3,500. The monthly cash flow is:

Practice More Maine Real Estate Questions

1,500+ questions covering all exam topics. Start free — no signup required.

Take the Free Maine Quiz →