Real Estate Math
A Wisconsin buyer receives a seller credit of $5,000 at closing on a $280,000 purchase. If they put 20% down and borrow the rest, their actual cash at closing (excluding other costs) is:
A$46,000
B$51,000✓ Correct
C$56,000
D$61,000
Explanation
Down payment = $280,000 × 20% = $56,000. Seller credit reduces cash needed: $56,000 - $5,000 = $51,000.
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