Real Estate Math
A property is listed at $350,000. The buyer offers $330,000 with a 3% seller-paid closing cost contribution. What is the effective cost to the seller if they accept?
A$330,000
B$320,100✓ Correct
C$319,900
D$323,100
Explanation
Seller-paid closing costs = $330,000 × 3% = $9,900. Effective net to seller = $330,000 – $9,900 = $320,100. The seller must consider both the lower price AND the closing cost contribution when evaluating the offer.
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