Real Estate Math
A Virginia property sells for $875,000 with closing costs of 3% paid by the buyer. How much are the buyer's closing costs?
A$26,250✓ Correct
B$26,750
C$27,500
D$25,000
Explanation
Closing costs = $875,000 × 3% = $26,250. To solve this, multiply the relevant values: $875,000 at 3%.. The correct answer is $26,250.. This is a common calculation on the Virginia real estate exam.
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