Real estate math, assignment help

Jan 18th, 2016
Anonymous
Category:
Engineering
Price: $5 USD

Question description

seller Jones listed and sold his property for $48,000 and agreed to an exclusive right to sell listing agreement at 7% commission to be paid to Randa real estate company at closing. The principal loan balance on the day of closing (April 30) was $36,550 at an interest rate of 10.75%. The taxes for the year were $680 payable in arrears. The seller agreed to provide title insurance at a cost of $150 and a termite inspection that cost $35. How much did the seller net? Assume the 360 day method for prorating interest in the 365 day method for prorating taxes. also assume the seller owns the day of closing.

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