Real Estate Math
A Washington buyer is purchasing a triplex for $625,000 with 25% down. The closing costs are 2.5% of the purchase price. What are the total funds needed to close?
A$156,250
B$171,875✓ Correct
C$172,100
D$175,000
Explanation
Down payment = $625,000 × 25% = $156,250. Closing costs = $625,000 × 2.
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