Real Estate Math
A North Dakota seller's home is appraised at $340,000. They list it for 105% of appraised value. What is the listing price?
A$340,000
B$352,000
C$357,000✓ Correct
D$374,000
Explanation
Listing price = $340,000 × 105% = $340,000 × 1.05 = $357,000. To solve this, multiply the relevant values: $340,000 at 105%.. The correct answer is $357,000.. This is a common calculation on the North Dakota real estate exam.
Related North Dakota Real Estate Math Questions
- A North Dakota agent lists a home for $285,000 and receives a 6% commission. The agent's broker keeps 40% and the agent keeps 60%. How much does the agent receive?
- A North Dakota property taxes are $5,400 per year. Closing is May 1. Using 12 months, how much does the seller owe the buyer in prorated taxes (taxes paid in arrears)?
- A North Dakota home is on a 9,600 sq ft lot. A local ordinance requires 30% of the lot to remain as open space. How many square feet may be built upon?
- A North Dakota property investor wants a 9% return on investment. If they're willing to invest $850,000, what is the minimum annual NOI needed?
- A Fargo property valued at $320,000 has annual property taxes of $6,400. What is the effective tax rate?
- A North Dakota seller agrees to pay all of the buyer's closing costs estimated at $8,500. If the purchase price is $285,000, what is the effective net price to the seller before mortgage payoff?
- A North Dakota apartment building with 8 units rents each unit for $950/month. Annual vacancy is 5%. What is the effective gross income (EGI)?
- A North Dakota property is sold in a 1031 exchange. The seller's relinquished property sold for $800,000 with an adjusted basis of $500,000. To defer all capital gains, the replacement property must be purchased for at least:
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 →