A property sold for $287,000 with the seller paying a 6.5% Brooker Fee. The listing firm agreed to a 50/50 split with the selling firm. The buyers agent is to receive 60% of the selling side. How much did the buyers agent receive?
$18,655
$5,596.50
$9,327.50
$3,731
Mary wants to receive $20,000 upon the sale of her home. She has agreed to a 5% Broker Fee. She must pay off her loan of $175,000 and closing costs of $3,150. What must the house sell for?
$198,150
$208,578.95
$208,057.50
$210,000
Ann is selling a rental property to Sue. The tenant paid the rent for October on October the 1st. The settlement is on October 26th. The rent is $1,100 a month. Seller owns day of closing. Please prorate between buyer and seller.
DEBIT SELLER / CREDIT BUYER $183.33
DEBIT SELLER / CREDIT BUYER $146.67
DEBIT BUYER / CREDIT SELLER $146.67
DEBIT BUYER / CREDIT SELLER $183.33
Kim’s home has a market value of $500,000 and is assessed at 80%. The tax rate for the city is $.31 and for the County $.88 Kim’ property is located in the city. Please calculate the annual tax bill.
$5,950
$4,805
$3,520
$4,760
Sue has a tax bill of $5,200 for the year. She will be closing on the 26th of November. The seller paid the bill in advance. Buyer owns day of closing. Please prorate the tax bill between buyer and seller. -24Buyer owns day of closing.
Debit Buyer Credit Seller $491.11
Debit Seller Credit Buyer $505.56
Debit Buyer Credit Seller $505.56
Debit Seller Credit Buyer $491.11
The buyer has agreed to pay 1 point for loan origination and 1 discount point. How much will the buyer have to pay in points on a sales price of $420,000 with an 85% loan to value?
$8,400
$7,140
$4,200
$3,570
Please calculate the P&I payment on a 90% LTV with a sales price of $275,000. The factor is $8.21 per $1,000 borrowed.
$2,031.98
$2,257.75
$2,750
$2,220
Kim borrowed $325,750 at 6% for 30 years. The closing is scheduled for March 13th. The first monthly payment will be on May 1st. Please calculate the Interim Interest to be payed at settlement by the buyer.
Debit Borrower / Credit Seller $977.25
Debit Seller/ Credit Borrower $1,628.75
Debit Borrower / Credit Seller $1,628.75
Debit Seller/ Credit Borrower $977.25
Kim borrowed $325,750 at 6% for 30 years. How much interest will be paid over the life of the loan?
$377,343
$19,545
$234,540
$703,080
ABC lists a home for $650,000. the owner will pay a 7% Broker Fee. Lynne an agent with XYZ sells the home for $635,000. ABC the listing firm agrees to pay the selling firm a 2.4% commission split. How much will the listing firm retain?
$29,210
$45,500
$44,450
$15,240
