Real Estate Math (alternative)
A Maryland seller lists at $529,000 and accepts 98% of list price. The 6% commission on the actual sale price is:
A$26,450
B$31,090✓ Correct
C$31,434
D$28,392
Explanation
Sale price = $529,000 × 98% = $518,420. Commission = $518,420 × 6% = $31,105.
Related Maryland Real Estate Math (alternative) Questions
- A Maryland property was purchased for $185,000 and sold 8 years later for $265,000. The total percentage appreciation is approximately:
- In Maryland, a property's current assessment is $290,000. Applying the Homestead Tax Credit (10% annual cap), the maximum assessment next year is:
- A Maryland buyer's agent earns 2.75% co-op commission on a $390,000 sale. The agent's broker retains 25% and pays the agent 75%. The agent's net is:
- A Maryland property manager collects $6,500 in monthly rent and charges a 9% management fee. Monthly management fee is:
- A Maryland seller paid $240,000 and sells for $330,000 after paying $19,000 in total selling costs. Net profit is:
- A Maryland buyer purchases a home for $410,000 with 15% down. After 1 year the home appreciates to $430,000. The buyer's equity is now:
- A Maryland investment property has an LTV of 75% and a purchase price of $600,000. The loan amount is:
- A Maryland investor buys a rental property for $250,000. Annual NOI is $20,000. The cap rate is:
Practice More Maryland Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maryland Quiz →