Question

please answer ALLL OF THE QUESTIONS!

show work too please.

2) A home lists for $350,000. The seller receives $333,700 after paying a 6% commission. What is the selling price of the home? 3) An appraiser estimates that the replacement cost new of a building is $520,000. The building has an economic life of 70 years and a remaining life of 58 years. What is the current value of the building? 4) A lot has a depth of 180' and an area of 49,500 sq feet. If the property sells for $700 per front foot, what is the price? 5) a house is sold for $350,000. Earnest money of $75,000 is placed into escrow and the buyer obtains a loan for the balance. The lender charges the buyer 3 points on the loan. What is the total cash used by the buyer for the purchase? 6) an office rents for $650/mo and is 14 X 24. What is the annual rent per sq foot? 7) a property is sold ad settles April 15th. Annual taxes of $4800 have been paid by the seller. Who will get the credit and for how much? 8) a seller landlord collects the April rent from 6 tenants: 2 at %700/mo. And 4 at $ 1200/mo. What amount would the seller credit the buyer if he sells and settles or April 11th? 9) A home is valued at $430,000 and has a 60% mortgage loan on it. Interest is at 8%. Payments of principle and interest are $1900/ mo. After the first monthly payment is made what is the loan balance?

Answer 1

Answer – 2

The listing price of home                                              $350,000

Commission 6%

Net selling price after commission $333,700

Let the selling price of home be $100. The commission is 6% of $100 which would be $6. The net selling price of home after deducting commission would be $94 ($100-$6).

Like ways, the selling price of home would be,

                                                                                = ($333,700/$94) x 100

                                                                                =$355,000