Real Estate Math
A Utah property sold for $325,000. The seller paid 6% commission, $2,500 in title fees, and $800 in recording fees. What are total selling costs as a percentage of the sale price?
A7.0%✓ Correct
B6.5%
C7.5%
D6.0%
Explanation
Commission = $325,000 × 0.06 = $19,500. Total costs = $19,500 + $2,500 + $800 = $22,800. Percentage = $22,800 ÷ $325,000 ≈ 7.02% ≈ 7.0%.
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