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A broker lists a house with a 6.5% commission and offers a 50% commission split to cooperating brokers. A sales associate in another office sells the house for $1,250,000. The sales associate receives 55% of the commission received by her broker. What is the sales associate’s commission?
A sales associate sells a house for $330,000. His commission of $5,940 is 30% of the total commission. What is the total commission percentage?
A broker received a commission of $34,375. The commission rate was 5.5%. What was the price?
A broker sold his listing for $420,000 and gets a commission of $26,880. What was the commission rate?
A woman bought a building site six months ago for $75,000. She sold it last week for $63,500. What was her percentage loss?
Which party usually orders the appraisal on a home sale with a federally-related mortgage?
The closing date for a home priced at $400,000 is May 3. Property taxes are $3,758.60. What is the proration, and on which page of the Closing Disclosure is the proration shown?
Closing date is September 5. The buyer is assuming the seller’s 4% mortgage which has a balance of $234,512.54. What is the proration?
The sale price of a home is $428,550. What are the documentary stamp taxes on the deed and where are they shown on the closing statement?
A buyer finances the purchase of his new $230,000 home with an 80% mortgage. What are the state taxes associated with the financing?
Which item is usually debited to the seller in a real estate closing?
On which page of the Closing Disclosure will one find the brokerage commission?
Why should a buyer purchase the first year’s insurance policy at least 30 days in advance of the closing?
The Closing date is June 15. Monthly rent collected in advance by the seller is $2,750. What is the proration, and on which page of the Closing Disclosure is the proration shown?
A broker has listed a house with a 6% commission and offers a 45% commission split to cooperating brokers. Another broker sells the house for $490,000. What is the selling broker’s commission at closing?