Real Estate Math
A buyer receives a seller credit of $8,500 at closing. The closing costs are $14,200. How much must the buyer bring to closing in addition to their down payment of $55,000?
A$5,700✓ Correct
B$63,500
C$60,700
D$4,845
Explanation
Buyer's out-of-pocket at closing = Down payment + Closing costs - Seller credit = $55,000 + $14,200 - $8,500 = $60,700. Just for closing costs portion: $14,200 - $8,500 = $5,700 additional beyond the down payment.
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