Real Estate Math
A Virginia buyer makes an offer that is 5% below the listing price of $410,000. What is the offer price?
A$369,000
B$389,500✓ Correct
C$395,000
D$400,000
Explanation
Offer = $410,000 × (1 – 0.05) = $410,000 × 0.95 = $389,500. To solve this, multiply the relevant values: $410,000 at 5%.. The correct answer is $389,500.. This is a common calculation on the Virginia real estate exam.
Related Virginia Real Estate Math Questions
- A Virginia property has a gross income of $60,000, vacancy loss of 6%, and operating expenses of $20,000. What is the net operating income?
- A Virginia buyer gets a $320,000 loan at 5.75% for 30 years. The monthly payment is $1,867. After 5 years of payments, approximately what percentage of the original balance has been paid down?
- A Virginia property has monthly expenses of $1,200 and rents for $2,000/month. The effective gross income is $2,000/month. What is the annual net operating income (NOI)?
- A Virginia property was purchased for $280,000 and sold for $322,000. What was the percentage gain?
- A Virginia property has a potential gross income of $85,000, vacancy loss of 8%, and operating expenses equal to 35% of EGI. What is the NOI?
- A Virginia buyer's total monthly housing payment (PITI) is $2,400. Their gross monthly income is $7,200. What is their front-end DTI ratio?
- A Virginia property has an asking price of $485,000. The buyer offers $465,000 and the seller counters at $475,000. The buyer accepts the counter. What is the sale price?
- A Virginia rental property has monthly gross rents of $6,000. The gross rent multiplier (GRM) for the area is 120. What is the estimated property value?
Practice More Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Virginia Quiz →