Real Estate Math
A New Mexico seller accepts an offer of $315,000. The loan payoff is $185,000, and closing costs are $8,000. The commission is 6%. What are the seller's net proceeds?
A$103,100✓ Correct
B$98,600
C$87,635
D$93,700
Explanation
Commission = $315,000 × 0.06 = $18,900. Net proceeds = $315,000 - $185,000 (loan) - $8,000 (closing) - $18,900 (commission) = $103,100.
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