Real Estate Math
A Wisconsin seller nets $210,000 after paying a 6% commission and $4,500 in closing costs. What was the sale price?
A$228,191
B$229,787✓ Correct
C$232,447
D$234,000
Explanation
Net = Sale price × (1 − 0.06) − $4,500.
Related Wisconsin Real Estate Math Questions
- A Wisconsin property is assessed at $180,000. The assessment ratio is 90% of market value. What is the estimated market value?
- A Wisconsin property is listed for $389,900 and sells for $377,000. What percentage of list price did it sell for (rounded to one decimal)?
- A Wisconsin home's annual property tax is $5,280 paid in arrears. The closing is on April 30. Using a 360-day year, how much does the seller owe the buyer as a tax proration credit?
- A Wisconsin property has 15 rentable units and a 10% vacancy rate. Of the occupied units, each pays $800/month. What is the annual effective gross income?
- A Wisconsin investor purchases a rental property for $320,000 and finances 80%. The monthly principal and interest payment at 7% for 30 years is approximately $1,704. What is the annual debt coverage ratio if NOI is $28,000?
- A Wisconsin lender requires reserves of 2 months PITI after closing. Monthly PITI is $1,850. How much must the buyer have in reserves?
- A Wisconsin homeowner's insurance premium is $1,800/year. If the lender impounds this cost monthly, how much is added to the monthly mortgage payment?
- A Wisconsin mortgage has a balance of $225,000. A buyer assumes it. The purchase price is $290,000. How much cash does the buyer need at closing (excluding closing costs)?
Practice More Wisconsin Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wisconsin Quiz →