Real Estate Math
A South Carolina seller lists their property at $375,000 and accepts an offer at 96% of list price. Seller pays 3% buyer's agent commission and 3% listing commission. Total closing costs including commissions amount to 8% of sale price. What are the seller's net proceeds?
A$313,200
B$345,000
C$330,000✓ Correct
D$320,000
Explanation
Sale price = $375,000 × 96% = $360,000. Closing costs = $360,000 × 8% = $28,800. Net proceeds = $360,000 - $28,800 = $331,200.92 = $331,200. The net is $331,200 but closest listed is $313,200.
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