There was an FHA commitment on a duplex that was conditional because the duplex is not going to be occupied by the owners. The cost of the property is $247,500. At closing the loan the mortgage broker is going to receive a 4% discount o
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10/15/2008
An investor found two real nice lots near a small private lake that he really liked. The owner said that he would offer him both lots at a nice price. The he wanted 5000 dollars each for the two lots but said that he would take 3000 dollars for the
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10/15/2008
A commercial building was a nice downtown two story structure. This particular building had ground measurements of 46 feet by 80 feet. The height of the first story of this building was 16 feet. The height of the second story of the building
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10/15/2008
An investor wants to subdivide a ten acre tract into 50 by 100 foot lots each, after making an allowance for 85,600 square feet for roads. How many lots can the investor divide the tract into ? The answers, along with the corresponding sol
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10/15/2008
Bob is working on a 50/50 split with his brokerage. He sells the South half of the North East quarter of Section 27, Township 8 North, Range 14 East of the 6th Principal Meridian for $21,000 an acre. The commission arrangement with the bro
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10/15/2008
A contract was signed for the sale of a commercial property. The property was listed for 600 thousand dollars. At the time of the sale 120 thousand dollars was put down on the purchase and the balance was payable in monthly installments of 5 thou
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10/15/2008
Bob decided to build a building with a flat roof 130 feet long, 30 feet wide and 24 feet high. Don offers to build it for 89 dollars a square foot. Sonny says that he'll build it for $4.50 per cubic foot. How much will Bob save if he awards
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10/15/2008
An investor bought two lots for 30 thousand dollars each. He divided them into three lots and sold them for 24 thousand dollars each. What was his percentage profit after he sold all three ? The answers, along with the corresponding solution, w
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10/15/2008
You've just signed a listing with a seller to sell a parcel of land 495 feet wide by 1,320 feet deep. The selling price of the parcel is $20,000.00 an acre. What's the total price of the parcel ? The answers, along with the corresponding
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10/11/2008
What the cost for the excavation of a basement 25 feet wide, 30 feet long, and 5 feet deep at $30 per cubic yard ? The answers, along with the corresponding solution, will be posted below the photographs at the bottom of the page, so spend a li
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10/11/2008
