Real Estate Math

A Washington seller agreed to pay $8,000 in buyer's closing costs. The home sells for $495,000 with 5% commission. The seller's net proceeds (ignoring other costs) are:

A$435,750

B$461,750✓ Correct

C$462,250

D$463,250

Explanation

Commission = $495,000 × 5% = $24,750. Net = $495,000 − $24,750 − $8,000 = $462,250.

Related Washington Real Estate Math Questions

A Washington home appraiser determines a GLA adjustment of $120/SF. A comparable has 1,950 SF and the subject has 1,780 SF. The GLA adjustment applied to the comparable is:
A Washington property has a potential gross income of $150,000, vacancy of 7%, and operating expenses of 42% of EGI. What is the NOI?
A Washington borrower has a $325,000 balance on their mortgage. The property appraised for $500,000. What is the current LTV ratio?
A Washington appraisal comparable sold for $485,000. It is located on a busy street which penalizes value by $18,000 compared to the subject's quiet street location. The adjusted comparable value is:
A Washington investor wants to buy a retail strip mall that generates $480,000 NOI. The cap rate for comparable properties is 6.5%. What is the indicated value?
A Washington commercial building leases at $28/SF/year on 4,500 SF with a 5% annual rent increase. What is the rent at the start of year 3?
A Washington listing sold at $745,000. The broker's 5.5% commission was split 55% listing, 45% co-op. The co-op broker earned:
A Washington property manager charges 7.5% of gross collected rents on a property that produces $168,000 per year. Annual management fee:

Practice More Washington Real Estate Questions

1,500+ questions covering all exam topics. Start free — no signup required.

Take the Free Washington Quiz →