Real Estate Math
A seller nets $340,000 after paying a 6% commission. What was the sales price?
A$360,638
B$361,702✓ Correct
C$362,500
D$370,000
Explanation
Net = Sales price x (1 - 0.06). $340,000 = SP x 0.94. SP = $340,000 / 0.94 = $361,702 (rounded). To solve this, multiply the relevant values: $340,000 at 6%.. The correct answer is $361,702.. This is a common calculation on the North Carolina real estate exam.
Related North Carolina Real Estate Math Questions
- A property is listed at $425,000. The buyer offers $410,000. If the seller accepts, what is the commission at 5.5%?
- A home sells for $425,000 and the broker charges a 5.5% commission. What is the total commission?
- An investment property in NC sells for $750,000. The selling broker earns 2.5% and the listing broker earns 2.5% commission. What is each broker's total commission?
- Annual rent on a commercial lease is $24 per square foot. The space is 2,500 square feet. What is the monthly rent?
- A property generates annual net income of $36,000 and is purchased for $450,000. What is the overall (cap) rate?
- A NC homeowner paid $265,000 for their home 8 years ago. It is now appraised at $355,000. The percentage increase in value is approximately:
- A property in NC has a list price of $599,000 and sells for 97% of list price. The final sale price is:
- A buyer finances $340,000 at 7% for 30 years. The monthly payment (P&I) using the factor of $6.65 per $1,000 financed is approximately:
Practice More North Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Carolina Quiz →