Real Estate Math
A Minnesota buyer offers $315,000 for a home listed at $329,900. If the seller wants to counter at $320,000, what percentage below the original list price is the counter?
A3.0%
B3.3%✓ Correct
C2.7%
D1.5%
Explanation
Reduction from list = $329,900 - $320,000 = $9,900. Percentage below list = $9,900 / $329,900 = 0.
Related Minnesota Real Estate Math Questions
- A home is listed at $385,000 and sells for 97% of list price. The seller pays a 5.5% commission on the sale price. What is the commission?
- A Minnesota seller accepts $419,000 after paying a 5.5% commission and $2,500 in other closing costs. What was the approximate sale price?
- If a Minnesota property appreciates 4% per year, what will a $250,000 home be worth in 3 years?
- A property in Minnesota is assessed at $320,000. The tax rate is 1.2%. What is the annual property tax?
- At closing, Minnesota property taxes are prorated. The seller owned the property from January 1 to July 15 (196 days). Annual taxes are $4,380. Using a 365-day year, how much does the seller owe the buyer in tax proration?
- A Minnesota commercial property generates $150,000 in annual NOI and the investor wants a 7.5% cap rate return. What should the investor pay for the property?
- A rectangular lot is 150 feet wide and 200 feet deep. How many square feet does it contain?
- A Minnesota property has a potential gross income of $90,000/year, a 6% vacancy rate, and operating expenses of $32,000. What is the NOI?
Practice More Minnesota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Minnesota Quiz →