Real Estate Math
A North Dakota home is appraised at $285,000. A buyer offers 98% of appraised value. What is the offer amount?
A$277,000
B$279,300✓ Correct
C$281,700
D$285,000
Explanation
Offer = $285,000 × 98% = $285,000 × 0.98 = $279,300. To solve this, multiply the relevant values: $285,000 at 98%.. The correct answer is $279,300.. This is a common calculation on the North Dakota real estate exam.
Related North Dakota Real Estate Math Questions
- A North Dakota property investor expects $18,000 annual net income on a $225,000 property. What is the return on investment (ROI)?
- A North Dakota broker's monthly trust account statement shows a beginning balance of $15,000, deposits of $25,000, and disbursements of $18,000. What is the ending balance?
- A North Dakota home was purchased for $250,000. After 5 years of 3% annual appreciation, what is the approximate value?
- A North Dakota buyer pays $3,500 in loan origination fees on a $175,000 loan. What is this as a percentage of the loan amount?
- A buyer finances $160,000 at 7% annual interest (interest only). What is the monthly interest payment?
- A home sold for $240,000. The listing broker and buyer's broker split the 6% commission equally. How much did each broker receive?
- A North Dakota commercial lease has a base rent of $10,000/month plus a 2% overage on annual gross sales above $1,000,000. If the tenant's annual gross sales are $1,500,000, what is the total annual rent?
- A North Dakota home has a list price of $265,000. The buyer offers 95% of list price. What is the offer price?
Practice More North Dakota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Dakota Quiz →