Real Estate Math
A Virginia property is purchased for $500,000 with 25% down. Closing costs are $8,000. What is the total cash needed at closing?
A$125,000
B$133,000✓ Correct
C$108,000
D$130,000
Explanation
Down payment = $500,000 × 25% = $125,000. Total cash = $125,000 + $8,000 = $133,000.
Related Virginia Real Estate Math Questions
- A Virginia property has a NOI of $36,000 and is valued at $480,000. What is the cap rate?
- A Virginia property management company manages 150 units averaging $1,100/month rent. At a 9% management fee, what are their monthly management fees?
- A Virginia agent lists 12 homes per year averaging $400,000 each. At a 3% commission (listing side), what is their annual gross commission income?
- A Virginia commercial tenant is in a 5-year lease at $3,500/month with 3% annual escalations. What is the monthly rent in year 3?
- A Virginia buyer finances $320,000 at 5.5% for 30 years. The monthly payment (P&I only) is approximately $1,817. How much total interest is paid over the life of the loan?
- A Virginia brokerage has 15 agents. If they need to split $180,000 in total commissions equally (after the brokerage keeps 20%), how much does each agent receive?
- A Virginia investor's property has annual gross rent of $42,000, expenses of $16,000, and debt service of $18,000. What is the annual cash flow?
- A Virginia home sold for $620,000. Transfer taxes total 0.25% of the sale price. How much are the transfer taxes?
Practice More Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Virginia Quiz →