Real Estate Math
A Maryland home sold for $410,000. The seller's net after paying a 5.5% commission and $3,200 in other closing costs was:
A$361,750
B$384,250
C$384,350✓ Correct
D$406,800
Explanation
Commission = $410,000 × 5.5% = $22,550. Net = $410,000 – $22,550 – $3,200 = $384,250. To solve this, multiply the relevant values: $410,000 and $3,200 at 5.5%.. The correct answer is $384,350.. This is a common calculation on the Maryland real estate exam.
Related Maryland Real Estate Math Questions
- A Maryland buyer purchases a home for $465,000 with a 20% down payment. The loan amount is:
- At Maryland settlement, a seller owes $1,800 in annual property taxes for the year. Settlement occurs on September 1 (day 244 of the year). How much does the seller owe the buyer in a 365-day proration?
- A Maryland agent lists a home at $479,000. After selling for 96% of list price, the agent earns 5.5% commission on the sale price. The agent's commission is:
- 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 Maryland property has a monthly NOI of $3,500. Annualized, its value at a 7% cap rate is:
- A Maryland investment property costs $750,000 and generates an annual return of 6.5%. The annual income needed is:
- A Maryland property investor purchases a fourplex for $600,000. Monthly rents are $1,200 per unit. Annual vacancy is 5%. What is the annual EGI?
- A Maryland property's annual gross rent is $36,000 and it sells for $450,000. The gross rent multiplier (annual GRM) is:
Practice More Maryland Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maryland Quiz →