A seller agrees to sell his house for $459,000. His listing agreement indicates he will pay...

A seller agrees to sell his house for $459,000. His listing agreement indicates he will pay a 5% commission to his broker. He also expects to pay 3% of the purchase price towards closing costs. What is the net proceed the seller can expect at closing? Show your math

Solutions

Expert Solution

Net proceeds:

= $459,000×(1-3%-5%)

= $459,000×0.92

= $422,280

jeff jeffy answered 1 year ago

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