Real Estate Math
A Washington property's tax bill is $8,400/year. At closing on April 1, taxes are paid in arrears (seller owes Jan 1–Mar 31). How much does the seller owe at closing?
A$700
B$2,100✓ Correct
C$2,800
D$4,200
Explanation
Jan 1 to Apr 1 = 3 months. Seller's share = $8,400 × (3/12) = $8,400 × 0.25 = $2,100. Using the values given ($8,400), apply the appropriate formula.. The correct answer is $2,100.. This is a common calculation on the Washington real estate exam.
Related Washington Real Estate Math Questions
- A Washington home sells for $540,000 with 5% commission split 50/50. Each broker receives:
- A Washington property manager collects rents for 12 months totaling $186,000. The management fee is 8%. Annual fees earned are:
- A Washington building has an annual NOI of $180,000. The investor uses a 7.5% cap rate. What is the value?
- A Washington investor wants a 9% return on a $600,000 investment. What annual NOI is required?
- A Washington broker lists a property for $699,000 and it sells after 2 price reductions of 2% each. What is the final sale price?
- A buyer in Washington puts 10% down on a $475,000 home and pays 0.5% monthly PMI on the loan balance. What is the first month's PMI?
- A Washington listing agreement requires the seller to pay 5.5% commission. The home sells for $610,000. What is the commission amount?
- A Washington home's list price is $749,900 and it sells for $735,000. What is the sale-to-list price ratio?
Practice More Washington Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Washington Quiz →