Real Estate Math
A Maryland seller pays 6% commission, $2,500 in attorney fees, and $1,800 in title insurance on a $480,000 sale. What are total closing costs?
A$28,800
B$31,300
C$33,100✓ Correct
D$34,600
Explanation
Commission = $480,000 × 6% = $28,800. Total = $28,800 + $2,500 + $1,800 = $33,100. To solve this, multiply the relevant values: $2,500 and $1,800 at 6%.. The correct answer is $33,100.. This is a common calculation on the Maryland real estate exam.
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