Real Estate Math
A New Mexico listing is priced at $525,000. The buyer offers $500,000. The seller counters at $512,500. If accepted, what percentage of the original asking price does the counter represent?
A96.5%
B97.6%✓ Correct
C98.1%
D98.5%
Explanation
$512,500 / $525,000 = 0.9762 = 97.
Related New Mexico Real Estate Math Questions
- A lender requires a debt-to-income ratio (DTI) of no more than 43%. A borrower earns $7,000/month gross and has $500/month in other debt. What is the maximum new housing payment allowed?
- A New Mexico property has an assessed value of $78,000, which represents 1/3 of market value. The tax rate is 30 mills. What is the annual property tax?
- A New Mexico property worth $480,000 is assessed at 1/3 of value. The total assessed value of the taxing district is $800 million and the district needs $12 million in tax revenue. What is the tax rate in mills?
- A New Mexico property has a market value of $390,000. It is assessed at one-third of market value. The tax rate is 25 mills. What is the annual tax?
- A New Mexico investor pays $650,000 for a commercial building and expects an 8% cap rate. After 3 years, if the cap rate remains at 8% and the NOI increases by 10%, what would be the new estimated value?
- A New Mexico seller received $278,500 after paying a 5.5% commission. What was the gross sale price? (Round to nearest dollar)
- A New Mexico home is purchased for $280,000. The buyer pays 20% down and obtains a 30-year fixed loan at 7%. After the first payment (monthly factor $6.65/$1,000), what is the principal balance remaining?
- A New Mexico 4-unit residential building sells for $520,000. The annual gross rent is $52,000. What is the GRM?
Practice More New Mexico Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Mexico Quiz →