Word Problems Quiz

Sally was looking for homes.  She was looking for a single-family home with 3 bedrooms and 2 bathrooms, and probably between 1200-1500 square feet on a lot that is at least ½ an acre.  Sally found a home that was 1300 square foot home on a lot that was 75 feet wide and 150 feet deep. The yearly taxed on this property are $3214.00.  Sally was working with her Realtor®, Marsha, to find the home, the sale price was $235,000.00. She was excited about this since she was pre-approved for $250,000.00. She was planning to put a down payment of $20,000.00.  Sally had Marsha, put an offer in on the home for $5,000.00 over ask price and it was accepted at that price with $2000.00 in earnest money. The lender sent you an email stating the buyer was buying down 3 points totally $3000.00. The homeowner’s insurance Sally found costs $859.00 a year.  She needs to put 3 months’ worth of this yearly total in her escrow account at closing.  Additionally, there would need to be 3 months’ worth of the yearly taxes placed in the escrow account at closing. 

Sally was looking for homes. She was looking for a single-family home with 3 bedrooms and 2 bathrooms, and probably between 1200-1500 square feet on a lot that is at least ½ an acre. Sally found a home that was 1300 square foot home on a lot that was 75 feet wide and 150 feet deep. The yearly taxed on this property are $3214.00. Sally was working with her Realtor®, Marsha, to find the home, the sale price was $235,000.00. She was excited about this since she was pre-approved for $250,000.00. She was planning to put a down payment of $20,000.00. Sally had Marsha, put an offer in on the home for $5,000.00 over ask price and it was accepted at that price with $2000.00 in earnest money. The lender sent you an email stating the buyer was buying down 3 points totally $3000.00. The homeowner’s insurance Sally found costs $859.00 a year. She needs to put 3 months’ worth of this yearly total in her escrow account at closing. Additionally, there would need to be 3 months’ worth of the yearly taxes placed in the escrow account at closing.

Sally was looking for homes. She was looking for a single-family home with 3 bedrooms and 2 bathrooms, and probably between 1200-1500 square feet on a lot that is at least ½ an acre. Sally found a home that was 1300 square foot home on a lot that was 75 feet wide and 150 feet deep. The yearly taxed on this property are $3214.00. Sally was working with her Realtor®, Marsha, to find the home, the sale price was $235,000.00. She was excited about this since she was pre-approved for $250,000.00. She was planning to put a down payment of $20,000.00. Sally had Marsha, put an offer in on the home for $5,000.00 over ask price and it was accepted at that price with $2000.00 in earnest money. The lender sent you an email stating the buyer was buying down 3 points totally $3000.00. The homeowner’s insurance Sally found costs $859.00 a year. She needs to put 3 months’ worth of this yearly total in her escrow account at closing. Additionally, there would need to be 3 months’ worth of the yearly taxes placed in the escrow account at closing.

Sally was looking for homes. She was looking for a single-family home with 3 bedrooms and 2 bathrooms, and probably between 1200-1500 square feet on a lot that is at least ½ an acre. Sally found a home that was 1300 square foot home on a lot that was 75 feet wide and 150 feet deep. The yearly taxed on this property are $3214.00. Sally was working with her Realtor®, Marsha, to find the home, the sale price was $235,000.00. She was excited about this since she was pre-approved for $250,000.00. She was planning to put a down payment of $20,000.00. Sally had Marsha, put an offer in on the home for $5,000.00 over ask price and it was accepted at that price with $2000.00 in earnest money. The lender sent you an email stating the buyer was buying down 3 points totally $3000.00. The homeowner’s insurance Sally found costs $859.00 a year. She needs to put 3 months’ worth of this yearly total in her escrow account at closing. Additionally, there would need to be 3 months’ worth of the yearly taxes placed in the escrow account at closing.

The seller, Margie, is looking to list her home and wants to list it for at least $245,000.00.  Margie wants to walk away from the transaction with at least $50,000.00 in net proceeds. Margie owes $149,000 on her principal mortgage on the home and has a home equity loan in the amount of $24,000.00.  The title policy will cost $2,000.00, transfer tax is $800.00, water bill is $65.00, and Margie is responsible for $1,200.00 of the property taxes.  The commission that is being charged for the listing is $14,700.00.

 

Margie will be out of town starting June 1^st and returning on June 15^th. She wants to make sure that showings can happen during the time she is away.

The seller, Margie, is looking to list her home and wants to list it for at least $245,000.00.  Margie wants to walk away from the transaction with at least $50,000.00 in net proceeds. Margie owes $149,000 on her principal mortgage on the home and has a home equity loan in the amount of $24,000.00.  The title policy will cost $2,000.00, transfer tax is $800.00, water bill is $65.00, and Margie is responsible for $1,200.00 of the property taxes.  The commission that is being charged for the listing is $14,700.00.

 

Margie will be out of town starting June 1^st and returning on June 15^th. She wants to make sure that showings can happen during the time she is away.

The seller, Margie, is looking to list her home and wants to list it for at least $245,000.00.  Margie wants to walk away from the transaction with at least $50,000.00 in net proceeds. Margie owes $149,000 on her principal mortgage on the home and has a home equity loan in the amount of $24,000.00.  The title policy will cost $2,000.00, transfer tax is $800.00, water bill is $65.00, and Margie is responsible for $1,200.00 of the property taxes.  The commission that is being charged for the listing is $14,700.00.

 

Margie will be out of town starting June 1^st and returning on June 15^th. She wants to make sure that showings can happen during the time she is away.

Emily has been trying to locate a home to purchase for the past 3 months. The buyer’s agent was able to finally find a home that she loved. The home she wants was listed at $156,000.00.  The home was a single-family home located in Twin Lakes, WI, but the Zip Code associated with the County to the north of Kenosha.

 

During a phone call with the listing agent, the seller reiterated that he wanted to make sure that the pool table, washer, dryer, furnace, water heater, dishwasher, and playset in the back yard. He also wanted to make sure the oven/range and refrigerator should be excluded because they wanted to take them with to their new home. The listing had already included and excluded all the relevant inclusions in the listing agreement and MLS, so no amendment would be needed.

 

The buyer’s agent was reviewing the listing and figured out that his brokerage will earn a commission of $3,744.00 if they write an offer for their buyer and it is accepted.

Emily has been trying to locate a home to purchase for the past 3 months. The buyer’s agent was able to finally find a home that she loved. The home she wants was listed at $156,000.00.  The home was a single-family home located in Twin Lakes, WI, but the Zip Code associated with the County to the north of Kenosha.

 

During a phone call with the listing agent, the seller reiterated that he wanted to make sure that the pool table, washer, dryer, furnace, water heater, dishwasher, and playset in the back yard. He also wanted to make sure the oven/range and refrigerator should be excluded because they wanted to take them with to their new home. The listing had already included and excluded all the relevant inclusions in the listing agreement and MLS, so no amendment would be needed.

 

The buyer’s agent was reviewing the listing and figured out that his brokerage will earn a commission of $3,744.00 if they write an offer for their buyer and it is accepted.

Emily has been trying to locate a home to purchase for the past 3 months. The buyer’s agent was able to finally find a home that she loved. The home she wants was listed at $156,000.00.  The home was a single-family home located in Twin Lakes, WI, but the Zip Code associated with the County to the north of Kenosha.

 

During a phone call with the listing agent, the seller reiterated that he wanted to make sure that the pool table, washer, dryer, furnace, water heater, dishwasher, and playset in the back yard. He also wanted to make sure the oven/range and refrigerator should be excluded because they wanted to take them with to their new home. The listing had already included and excluded all the relevant inclusions in the listing agreement and MLS, so no amendment would be needed.

 

The buyer’s agent was reviewing the listing and figured out that his brokerage will earn a commission of $3,744.00 if they write an offer for their buyer and it is accepted.