Real Estate Math
A Massachusetts buyer offers $498,000 on a home listed at $520,000. The seller counters at $512,000. If the buyer accepts, the deed excise tax at $4.56 per $1,000 payable by the seller is:
A$2,334.72✓ Correct
B$2,274.72
C$2,372.16
D$2,404.32
Explanation
Deed excise tax = $512,000 / $1,000 × $4.56 = 512 × $4.56 = $2,334.72. Using the values given ($498,000, $520,000), apply the appropriate formula.. The correct answer is $2,334.72.. This is a common calculation on the Massachusetts real estate exam.
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