Real Estate Math
A Maryland buyer receives a $5,000 seller credit at closing. On a $350,000 purchase price with 10% down and a $315,000 loan, the credit reduces the buyer's out-of-pocket costs at closing by:
A$500
B$3,500
C$5,000✓ Correct
D$35,000
Explanation
A seller credit directly reduces the buyer's out-of-pocket closing costs dollar-for-dollar by $5,000.
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