David Saks: Real Estate Practice : Lesson 3879

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Real Estate Practice : Lesson 3879

math

A Missouri farm with 60 acres was listed in the MLS for $1500 an acre.

The farm was sold for $76,500 with the condition that the buyer pay the commission of 10% of the sale price.

How much did the buyer save under the list price with this condition ? 

Please take your time. The answer is below the wildlife photo.

wildlife

A. $5850

Let's find out what the slae price of the farm is by multiplying 60 acres times $1500 and we see that the original list price is 90000 dollars.

Now, if the farm is to sell for $76,500 and the buyer is to pay the 10% commission on the sale let's find out what the commission is by multiplying 10% or .10 times 76500 and we see that we have a commission of $7650.

Add ythe commission of $7650 to $76,500 and we now have a total of $84,150 due the buyer.

Subtract the total due the buyer, $84,150, from the original listing price of $90,000, and we see that the buyer saved $5850 by agreeing to purchase the farm with the commission condition.




David Saks



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Comment balloon 0 commentsDavid Saks • December 29 2014 01:48AM

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