Real estate math quizlet. Flashcards; Learn; Test; Match; Q-Chat; Get a hint.

Real estate math quizlet 20 terms. What was the original cost if the property has lost 35% of its value over the past seven years? A. The selling broker kept 25% Real Estate Math. a. What would the sale price be if the total commission was $4,375?, After subtracting $140. 8% commission?, If a seller prepaid the taxes of Study with Quizlet and memorize flashcards containing terms like If a man paid $50,000 for a business which gave him a 6% return on his money, how much did he make during the first year that he owned it?, Sydney Blackwell manages an office building with leases of $60,000 per year. Florida Real Estate Exam Manual for Sales Associates and Brokers - 42nd Edition Learn with flashcards, games, and more — for free. Study with Quizlet and memorize flashcards containing terms like Which of the following is an area of a real estate brokers job that requires mathematics? Mortgage interest All of these are correct Property taxes Commissions from Property Sales, Purchase Price + Improvement Value, Sale Price - Sale Expenses and more. How many square feet is the property? A) 10,300. 10 terms Study with Quizlet and memorize flashcards containing terms like - If you own a building free and clear that is worth $115,000 and want an annual return of 12%, what net income is needed each month? 1: $13,800 2: $1,120 3: $1,150 4: $12,260, - An owner lists his home and agrees to pay a 6% commission provided he nets $10,000 after paying the commission and the balance of his Mikayla, a licensed real estate sales agent, helped her client buy a property outside of Springfield. The listing and selling brokers agree to a 50-50 split between the two offices. Study with Quizlet and memorize flashcards containing terms like The Importance of Measurements, Common Measurement Conversions, Math Practice: Calculating Square Elevate your real estate knowledge with engaging quizzes. 05 = $400,000. RE PExam Calculations. 91, 2. 43,560 sq feet. If a property sells for $145,000 and the firm earns a 6% commission, what would be the sales associate's share? A. What was the original cost if the property has lost 35% of its value over the past 7 years, What was the price per front foot for a 100' x 125' lot that sold for $125,000, If the bank makes a 90% loan on a house valued at $88,500, how much additional cash is required as a Study with Quizlet and memorize flashcards containing terms like A man can borrow $203,000 to purchase a house, and this is 3. Study with Quizlet and memorize flashcards containing terms like 1 acre= (square feet), Area of a square, rectangle, parallelogram, Area of a triangle and more. Starnes, David Moore, Josh Tabor Study with Quizlet and memorize flashcards containing terms like A listing brokerage received a $25,000 check from a property sale, which represented the brokerage's 2. 5% interest for 30 years. If bedrooms are valued at $30,000, how would you adjust a CMA to account for this?, An apartment building that sold for $450,000 had monthly gross rent receipts of $3,000. The typical land value to property value ratio in that area is 35:65. 00 $8,850. The monthly desk rent required of sales associates is $900, payable on the last day of the month. 0 (1 review) Flashcards; Learn; Test; Match; Q-Chat; Get a hint. Teacher 5 terms. 89 C. The owner of the western bank can legally dispute this claim based on what doctrine? Study with Quizlet and memorize flashcards containing terms like 1. Log in Sign up for free. 94 Step 3: Divide. Study with Quizlet and memorize flashcards containing terms like Real Estate Math, Area Problems, As you'll see, the shape of the lot or room in question determines which formula you'll use. , Helen is purchasing a home for $150,000 and provides a $2,500 earnest money check to the seller, which will be applied to her down payment. Study with Quizlet and memorize flashcards containing terms like how many feet is one acre, how many acres is one square mile, how many feet are in a mile and more. , A square parcel of land measures 5 miles on each side. 50 per hundred dollars of value? and more. Study with Quizlet and memorize flashcards containing terms like A lot that is 65 feet wide by 80 feet deep will be fenced on both sides and the rear. Unit 15 - Estimating Real Property. 26 terms. $10 B. 0025 of all office sales. 33 b. , The Study with Quizlet and memorize flashcards containing terms like An acre is how many Sqft?, The total commission a brokerage firm was paid was $33,500. section 9: unit 2 adjustments and prorations. They owe $657,900 on their mortgage. Can you help Faye calculate the dollar amount for points she's going to pay on her loan?, Your client Frank is interested in selling a 54,450 Study with Quizlet and memorize flashcards containing terms like solve for acreage (area measurement for land), The income approach determines an investment property's value based on its return. It does this by, This is how you get the value of the rental property — a formula known as IRV: Net operating income (I) ÷ Capitalization rate (R) = Value (V) and more. ) You are Study with Quizlet and memorize flashcards containing terms like T-bar method, Area is expressed in _____. Try not to refer back to material in the book. 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Week 3 Study with Quizlet and memorize flashcards containing terms like A home sold for $375,900. Study with Quizlet and memorize flashcards containing terms like A property with a total value of $40,000 was appraised for tax purposes at 25% of market value if the tax rate was $3 per $100 of Real Estate Math: NY Real Estate Course. $67,407. $39,863. Points are a one-time service charge to the borrower for making the loan. 50 as commission for a referral fee. rl terms. Carahoherd. Study with Quizlet and memorize flashcards containing terms like 1. tamaslracz. The subdivision contains a total of 48 acres. The third contributes $30,000 and agrees to manage the day-to-day operations of the business, which the friends call "Property Group Partners. 58. space for $11 per square foot. 72 c. 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Scheduled maintenance: October 8, 2024 from 05:45 PM to 07:45 PM hello quizlet Study with Quizlet and memorize flashcards containing terms like The magical T formula PART ----- TOTAL | RATE ️ [1], Commission Real Estate Maths. What is the adjustment value of the comparable?, If a buyer wants a 10% return on investment and is interested in a retail C The house has appreciated in value by 10% each year. What are the most common items that fall into this category?, What are the two methods when calculating items need to be prorated?, What is the proration math process for the 12 Study with Quizlet and memorize flashcards containing terms like Your client Faye is buying a condo downtown for $565,000 and financing 60% of the purchase. What is the indicated value of the property?, Property manager collects rent of $1,000 per month. The total commission was 5%. 5 points. 90 (Commission Rate) Unknown: P (Selling Price) What We Do Not Know Is The Selling Study with Quizlet and memorize flashcards containing terms like The value of a property is $91,000 today. Study with Quizlet and memorize flashcards containing terms like The fastest way to calculate one month's interest on a real estate loan with an interest rate of 7. $1,000 3. He just sold it for $86,900. Real Estate: Calculations. a_mcmullin2004. Their monthly payment amount is $1,468. (4) Problem states house sold for $230,000, which was more than original price. His loan balance is $185,000 closing costs will be $11,000 and he has agreed to pay the agent Study with Quizlet and memorize flashcards containing terms like (A-1) Determine the cash value of the loan points for a $142,500 loan if the points are: (a) 1; (b) 4; (c) 9, (A-1) "Cash value of points. 13 terms. 5-acre my personal flash cards to study math for the NC real estate license exam Learn with flashcards, games, and more — for free. $3,480 B. 160 acres and 6,984,000 sq. ", (A-1) "Point value to increase Points are items usually included in the cost of obtaining a new real estate loan. , What do you get if you convert 1/5 to a decimal?, What type of measurement is used with three-dimensional shapes? and more. 471 acres or 10,000 square meters ️ front foot: standard unit used to measure a boundary of the property that borders a street; one front foot is one foot of property bordering the street Quiz yourself with questions and answers for FLORIDA REAL ESTATE EXAM - MATH EXAM, so you can be ready for test day. Recently, they sold the property for $62,275. 4. Study with Quizlet and memorize flashcards containing terms like Real Estate Commission: A real estate sales associate's agreement with their broker gives the sales associate 60% of all commissions earned by the firm. Study with Quizlet and memorize flashcards containing terms like A man can borrow $203,000 to purchase a house, and this is 3. Ch 5. 94 = $231,915 Result: $231,915 In order to net $60,000 in profit on the sale of her home and still pay her mortgage balance, closing costs, a. $1 million (Correct) D. The listing agreement states that 3% of the sales price will go to the buyer's agent as commission. They made no major improvements during the time they owned the property. How much did the property manager earn in March?, An investor has purchased a property Study with Quizlet and memorize flashcards containing terms like Calculate the front foot price of a lot that has 500 front feet if the value per front foot is $1,200. LBJ1906. velda_g_c_franco. Two of these lots are owned by Owner A but the other lot is owned by Owner B. Essential Real Estate Math Skills. (the first number is front foot) 1. $10 million C. 16 terms. The agreement states that the broker will receive a 7% commission. Your teacher has invited you to join a class on Quizlet. Taxes for the year are $4,000; insurance for the year is $800. 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There are two types of points: Origination points Discount points Points represent prepaid interest, and the lender charges them to get additional income on the loan. 80, A broker shares the commission that is earned on the sale of real estate with a salesperson in a 3 to 2 ratio respectively. He Study with Quizlet and memorize flashcards containing terms like Ned and Carla buy a house that is listed at $105,000; their offer for $5,000 less than that is accepted. 94 = $231,915 Result: $231,915 In order to net $60,000 in profit on the sale of her home and still pay her mortgage balance, closing costs, repairs, and real estate agent commission, Caroline will need to sell her home for at least $231,915. 50 per cubic yard and labor costs are $2. C) 3,300. 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He sets aside 20% for a school and playground; 15% for roads, drainage ditches and sidewalks; and 15% for a strip shopping area with parking and buffer. The original cost of the land was 30 percent of the total purchase price. Vocab. AIS Finals Practice. ) Buyers have obtained a mortgage loan in the amount of $111,000 at 7. ) $200,000 EXPLANATION: (1) When talking about a percentage greater than or less than, take that percentage and add it to 100%. 9 terms. 66 terms. Study with Quizlet and memorize flashcards containing terms like Which of the following is TRUE regarding the history of calculators?, Sales agent Sally needs to convert square feet to square yards. The person who conducted the closing C. A second sales associate, who works for another brokerage office, found the buyer for the property. d. 62, If the price of a lot is $9 per square foot, how many Study with Quizlet and memorize flashcards containing terms like A builder is subdividing a 4. 8,333. 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The Real Estate Agent Who Found A Buyer Gave The Farmer A Check For $90,000, After Deducting A 10% Commission. 13. 03 = Total John Fitzpatrick holds $800 in security deposits from the six tenants in his apartment building when he sells the building to Helen Baker. 912,000 d. If the borrower has Study with Quizlet and memorize flashcards containing terms like A lot that is 65 feet wide by 80 feet deep will be fenced on both sides and the rear. How much should the property sell for so that both the seller and broker receive the amount of money they want? Math Review Questions Learn with flashcards, games, and more — for free. His earnest money deposit is 8%. What was the original cost if the property has lost 35% of its value over the past 7 years, What was the price per front foot for a 100' x 125' lot that sold for $125,000, If the bank makes a 90% loan on a house valued at $88,500, how much additional cash is required as a The Real Estate Agent Who Found A Buyer Gave The Farmer A Check For $90,000, After Deducting A 10% Commission. 24 terms. $5,220 C. What is the cost per front foot for the lot? About Quizlet; How Quizlet works; Careers; Advertise with ️ acre: a unit of area measurement used to determine the size of land — 1 acre = 43,560 square feet ️ hectare: metric unit used to measure the area of land; one hectare equals 2. Mustafa7974 Study with Quizlet and memorize flashcards containing terms like 'FHA mortgage insurance premium is calculated at a rate of 0. Preview. The rent for that unit is $725. 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If the salesperson sells a property for $148,000 on which the office commissions Question #11 of 28 Question ID: 939226 Three friends agree to purchase and operate a property as a permanent investment. Her management agreement is for 7 years, with fees as follows: 7% the first year; 5% the Study with Quizlet and memorize flashcards containing terms like AREA CALCULATIONS AREA OF A LOT, AREA CALCULATIONS AREA OF BUILDING, AREA CALCULATIONS PRICE PER SFT and more. This means that the maximum the lender is willing to approve for the purchase of Tabatha's home ($396,000) is 90% of the home's appraised value. Her lender is charging a one-point loan origination fee and Real estate math CALCULATIONS & QUESTIONS. Sign up to access free study materials, activities and more. Study with Quizlet and memorize flashcards containing terms like The value of a property is $91,000 today. Her lender is charging a one-point loan origination fee and two discount points. Study with Quizlet and memorize flashcards containing terms like Property Tax Math Annual Taxes Formula, Loan Math APR Formula, Loan Math Purchase Price Formula and more. 95 per square yard for carpet plus $6. 507 terms. $750,000. (3) When looking for a bigger number, multiply by 115%. $95,789. What is the market value of the property?, A property has been renting for $750 per month. Study with Quizlet and memorize flashcards containing terms like Real Estate Tax Formula, How are tax rates expressed?, What is the annual tax bill for a property assessed at $200,000 if the tax rate is $1. $39,932. ) 82. 40 D. com (80 cards) 2023-06-21 6 Real estate math is incredibly important not only for the real estate exam but for your real estate career. $39,794. 00 per square foot. Study with Quizlet and memorize flashcards containing terms like Acre, Hectare, Front Foot and more. 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What will their net be after they pay $24,500 in expenses and a 6. 1 / 11. Basic Math Concepts in Real Estate Transactions. tae_nikkol. All that's left for us to solve is: 218,000 ÷ 0. conniesiharath7. The firm was paid 7% on the first $200,000, 6% on the next $200,000 and 5% on the remainder. 00 Math: $403 (P & I per month) X 12 months (per year) X 30 years = $145,080 (total P&I paid Study with Quizlet and memorize flashcards containing terms like How to find Total Commission, How to find Commission Rate, What is a Point in real estate math ? 1 point= 1% of loan amount Loan amount X points(%) = points in dollars. The transaction closed on August 15th. in november, she recieved $2780. GA real estate math. If they intend to make a down payment of 25% what is the maximum they can pay for a property?, A seller tells an agent that he wants to net $150,000 on the sale of his home. Real estate math. 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Flashcards; Learn; Test; Match; Get a hint [Cost per front foot] A property is 490' X 775' and cost $120,000. how many feet is one acre. Dive in today! Study with Quizlet and memorize flashcards containing terms like Margie needs to know the square footage for the first floor of the condo her client is interested in buying. 38 B. BCIS 3610 6, 8, 9, 10. Part ÷ Percentage = Total $7,500 ÷ 0. Quiz yourself with questions and answers for Real Estate Math Practice Exam Problems, so you can be ready for test day. A seller wants to net a profit of $20,000 and agrees to pay a 7% commission. prepared by real estate agent A real estate company had adopted a 100 percent commission plan. The loan will be amortized by equal payments of principle and interest of 776. MATH:3770 Exam 2. 5 acres: Real Estate Maths. 60,000 c. " On a loan of $36,000 at 9%. The listing agent Study with Quizlet and memorize flashcards containing terms like Rectangular Survey System, Real Property Tax, Excise Tax and more. 104 terms. An office building has a monthly rental income of $8,000. Helen upon termination of the lease D. 18 terms. 5% interest rate. What is the cash value of 1 point? 3 points? "when finding the cash value, the rate of interest is extraneous. Based on comparables, the GRM is 110. Real Estate math. NC Real Estate Practice Math. Lesson 1: How to identify Smart Money. Be sure to use Study with Quizlet and memorize flashcards containing terms like An owner lists her home at a 7% commission rate and wants to net $45,000 after paying the mortgage balance of $68,000 and the broker's commission. How much money does the buyer need up front to make a purchase?, Brad & Joan Downing purchase a home for $150,000 that appraised for $152,500 there earnest money deposit is $1000. 15 terms. How many homes can be built on this property?, A Builder has a 180-acre Ch. Flashcards; Learn; Test; Match; Q-Chat; Get a hint. What is the principal balance remaining after the second monthly payment? a. How should she make the calculation?, Don a sales associate for ABC Realty is on a 50/50 commission split with his broker. What was the original cost if the property has lost 35% of its value over the past 7 years, What was the price per front foot for a 100' x 125' lot that sold for $125,000, If the bank makes a 90% loan on a house valued at $88,500, how much additional cash is required as a ️ acre: a unit of area measurement used to determine the size of land — 1 acre = 43,560 square feet ️ hectare: metric unit used to measure the area of land; one hectare equals 2. 00, 4% and more. If the GRM is 13. ANNELISE_FOSTER. $140,000. 40 $43. 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While working for a broker, a sales associate acquired a listing for $515,000 at a 6. $50,000 + 10% = $55,000 value at the end of the first year $55,000 + 10% = $60,500 value at the end of the second year $60,500 + 10%= $66,550 value at the end of the third year $66,550 + Study with Quizlet and memorize flashcards containing terms like Linear measures, foot, linear foot, running foot, front foot, Front foot/frontage/width and more. 52 terms. 80 acres and 3,492,000 sq. 10 terms. $556 C. What was the sales price of the property?, Agent Carrie received $937. If the living room is 21 feet x 12 feet, how much will it cost the sellers (to the nearest cent)?, If a borrower can afford to make Study with Quizlet and memorize flashcards containing terms like If a bank makes a 90% loan on a house valued at $88,500, how much cash is required at closing in the form of a down deposit if the buyer has already paid $4,000 in earnest money? $4,000. 13 = $188,145. 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What will the transfer tax be on this sale?, Dain and Sheryl's home sold for $751,150. Deformation of solids. The buyers obtained a mortgage for $305,750. How much is the premium for the month in which the remaining principal owed is $92,347?, John bought a house four years ago for $80,000. What will the loan balance be after they have made their first payment?, Jim got a $5,000 savings account at 4 percent interest compounded annually. They will allow $22. How many linear feet of fencing would be needed?, A man earns $20,000 per year and can qualify for a monthly PITI (Principal, Interest, Taxes, Insurance) payment equal to 25% of his monthly salary. He has been researching about the topic, but asks you, a fellow real estate agent, what you know about the type of property that would bring him the highest rate of Quiz yourself with questions and answers for FLORIDA REAL ESTATE EXAM - MATH EXAM, so you can be ready for test day. Study with Quizlet and memorize flashcards containing terms like $100,000 x 8% = $8000/2 = $4,000, Value = Income / Cap rate. $ 100,000 B. National Exam- Real Estate Math. 00. this amount was based on monthly sales of a. , A square parcel of land measures 8 miles on each side. 00 D. Chapter 10: Real Estate Math. Teacher 18 terms. She's financing the transaction, and her Quiz yourself with questions and answers for FLORIDA REAL ESTATE EXAM - MATH EXAM, so you can be ready for test day. 112000, What investment is necessary for a yield of $500 per month at 6% interest? a. 40 acres and 1,742,400 sq. One of the factors is unknown. 471 acres or 10,000 square meters ️ front foot: standard unit used to measure a boundary of the property that borders a street; one front foot is one foot of property bordering the street W is a salesperson working for Broker V. 44 per square foot?, How many Study with Quizlet and memorize flashcards containing terms like How many questions requiring math should a licensee candidate anticipate on the general portion of the licensing exam?, There is a large piece of land containing three equal size building lots situated side by side. The property manager earns 8% of monthly rent. National Real Estate Exam, National Real Estate Exam Prep, real estate. Study with Quizlet and memorize flashcards containing terms like % to decimal, A broker was paid 6% commission on the first $60,000 of a sale price and 4% for everything above that. NC Real estate math formulas. 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