Real Estate Math
A NH seller needs to net $340,000. They owe $185,000 on their mortgage and expect $6,000 in closing costs plus a 5% commission. What is the minimum sale price?
A$559,000
B$558,947✓ Correct
C$560,000
D$562,105
Explanation
Net = SP − Commission − Closing Costs − Mortgage. $340,000 + $185,000 + $6,000 = $531,000. This is SP × (1−0.05) = $531,000. SP = $531,000 / 0.95 = $558,947.
Related New Hampshire Real Estate Math Questions
- A NH property has 3,200 sq ft of living area. A comparable sold for $185/sq ft. The adjusted comparable value is:
- A NH commercial property leases space at $18 per square foot per year. The tenant leases 2,400 square feet. What is the monthly rent?
- A salesperson earns 60% of the total 5% commission on a $380,000 sale. How much does the salesperson earn?
- A property sells for $425,000. The selling agent earns a 3% commission split. What is the selling agent's commission?
- A NH buyer takes an FHA loan. The purchase price is $280,000. The upfront MIP is 1.75%. What is the upfront MIP amount?
- A NH investor wants a 9% return on a $500,000 investment. What annual net operating income must the property produce?
- A NH property's assessed value is $310,000 and it has a tax rate of $23.50 per $1,000. If taxes are paid quarterly, what is each quarterly payment?
- A NH buyer's monthly mortgage payment (P&I only) on a $250,000 loan at 7% for 30 years is approximately $1,663. How much of the first payment goes toward interest?
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 →