Real Estate Math
A Missouri seller pays a 6% commission and $2,500 in closing costs. If the property sold for $315,000, what are the seller's total selling costs?
A$18,900
B$21,400✓ Correct
C$19,000
D$16,900
Explanation
Commission = $315,000 × 6% = $18,900. Total costs = $18,900 + $2,500 = $21,400. To solve this, multiply the relevant values: $2,500 and $315,000, at 6%.. The correct answer is $21,400.. This is a common calculation on the Missouri real estate exam.
Related Missouri Real Estate Math Questions
- A Missouri investor pays $380,000 for a commercial property. They put 25% down and obtain a 75% LTV loan. What is the loan amount?
- Missouri residential property is assessed at 19% of market value. If a home has a market value of $220,000, what is the assessed value?
- A Missouri seller wants to net $240,000. Agent commission is 6%, closing costs are $3,000. What must the home sell for?
- A Missouri listing agent charges a 6% commission on a $275,000 sale. If the commission is split 50/50 between listing and selling broker, how much does the listing broker receive?
- A Kansas City metro property has monthly gross rent of $3,000 and sells for $396,000. What is the GRM?
- A Missouri triplex has monthly rents of $900, $850, and $950. Annual vacancy is 7%. What is the annual EGI?
- A Missouri commercial building has a GIM of 8 and annual gross income of $90,000. What is the estimated value?
- A Missouri commercial property sells for $1,200,000 with a 4% commission. The listing broker and selling broker split equally. How much does each broker receive?
Practice More Missouri Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Missouri Quiz →