Real Estate Math
A Virginia seller accepts an offer of $429,000. Closing costs they must pay are: $21,450 commission, $858 Grantor's Tax, $500 deed preparation, and $125 recording fee. What are the seller's total closing costs?
A$22,933✓ Correct
B$22,808
C$23,033
D$22,500
Explanation
Total seller costs = $21,450 + $858 + $500 + $125 = $22,933. Using the values given ($429,000, $21,450), apply the appropriate formula.. The correct answer is $22,933.. This is a common calculation on the Virginia real estate exam.
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