Real Estate Math
A NH seller accepts an offer of $392,000. The commission is 5% and the seller also pays $4,800 in closing costs. What is the seller's net proceeds?
A$372,560
B$367,760✓ Correct
C$363,000
D$374,200
Explanation
Commission = 5% × $392,000 = $19,600. Net proceeds = $392,000 − $19,600 − $4,800 = $367,600. To solve this, multiply the relevant values: $392,000 and $4,800 at 5%.. The correct answer is $367,760.. This is a common calculation on the New Hampshire real estate exam.
Related New Hampshire Real Estate Math Questions
- A borrower takes out a $280,000 mortgage at 6.5% annual interest. What is the first month's interest payment?
- New Hampshire's real estate transfer tax is $0.75 per $100 of purchase price, paid by each party. For a $350,000 sale, what does each party (buyer and seller) pay?
- A rectangular parcel measures 220 feet wide and 330 feet deep. How many acres does it contain? (1 acre = 43,560 sq ft)
- A broker lists a property for $450,000 and agrees to a 5.5% commission. The property sells for $440,000. What is the broker's commission?
- A NH income property has a 92% occupancy rate and 60 total units renting at $950/month. What is the effective gross monthly income?
- A listing agreement calls for a 6% commission on a $490,000 sale. The listing and selling brokers split the commission 50/50. How much does the listing broker receive?
- A NH buyer finances $280,000 at 6.5% annual interest. What is the first month's interest payment?
- A buyer puts 20% down on a $310,000 home. What is the loan amount?
Practice More New Hampshire Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Hampshire Quiz →