Real Estate Math
A Washington homeowner wants to net $500,000 after paying a 5.5% commission. What must the home sell for?
A$527,500
B$529,101✓ Correct
C$535,000
D$552,500
Explanation
Seller nets = Sale Price × (1 − 0.055). $500,000 = Sale Price × 0.945. Sale Price = $500,000 ÷ 0.945 = $529,100.53 ≈ $529,101.
Related Washington Real Estate Math Questions
- A Washington home sells for $650,000. The seller pays Washington's Real Estate Excise Tax (REET) of 1.28% on the first $500,000 and 2.75% on the amount above $500,000. What is the total REET?
- A Washington broker lists a property. After 45 days, the seller lowers the price by 2.5% from $825,000. The new list price is:
- A Washington renter pays $1,750/month. Annual rent increases 3%. What will the monthly rent be after 2 years?
- A Washington homeowner has an 80% LTV loan of $440,000. What is the home's value?
- A Washington property has an effective gross income of $210,000 and an expense ratio of 40%. What is the NOI?
- A property sells for $520,000. The commission rate is 5.5%. The listing broker and selling broker split the commission equally. How much does each broker receive?
- A Washington homeowner's property has an assessed value of $520,000 and receives a senior exemption that reduces the taxable value by $60,000. At a mill rate of 10 mills, what is the annual tax?
- A Washington property's annual NOI is $62,400. A comparable property with the same NOI just sold at a 7.8% cap rate. What is the indicated value of the subject property?
Practice More Washington Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Washington Quiz →