Question: A home sells for $ 4 0 5 , 0 0 0 but was listed for $ 4 3 5 , 0 0 0 ,

A home sells for $405,000 but was listed for $435,000, and the buyers are getting a 90% loan. The sellers are paying a 6% commission, and the buyers want the sellers to pay 2 discount points. The sellers are paying for a $55 recording fee, $1,735 in closing costs, and $253 for title insurance. The sellers originally purchased their home for $250,000 and their loan balance is $183,000. What are the seller's proceeds from the sale?
A. $121,367
(B.) $188,367
C. $216,027
D. $219,957
 A home sells for $405,000 but was listed for $435,000, and

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!