Real Estate Math
A Massachusetts seller's closing costs include a deed excise tax on a $900,000 sale, plus a 5% commission and $2,500 in attorney's fees. What are the seller's total closing costs?
A$51,604✓ Correct
B$52,604
C$49,604
D$50,000
Explanation
Deed excise = 900 × $4.56 = $4,104. Commission = $900,000 × 5% = $45,000. Attorney's fees = $2,500. Total = $4,104 + $45,000 + $2,500 = $51,604.
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