#859 A piece of land 500 feet by 350 feet had a sidewalk laid around it by the owner. The sidewalk encompassed the entire lot and a curb was placed along the lot lines. The sidewalk cost $32,000 and the curb was $20 per lineal yard. What
...
10/11/2010
#858 A builder / developer has 5.25 acres of land. He wants to divide the land into lots 60 feet wide by 100 feet deep. 36,690 square feet of land is required for street construction With all of the above considered, how many lots could be
...
10/11/2010
#857 Arnold got his tax bill today and it was $4903.00. The tax rate is 42 mills per dollar. The property is assessed at 58.25% of it's value. What is the actual value of Arnold's property ? Take your time. The solution is below the wildlife ph
...
10/11/2010
#856 A landowner has 160 acres of land. He sold 42.25 acres of the land to one man. He also sold one third of the remaining land to another buyer. How many acres were left ? A. 78.5 Acres Let's first subtract the 42.25 acres that were
...
10/11/2010
#855 A seller has a tract of land which encompasses 108,900 square feet of land. The selling price is $12,500 an acre. How much is the seller asking for the tract of land ? Take your time. The solution is posted below the wildlife photo ?
...
10/11/2010
#854 An investor bought a block of lots to build on with each lot containing a 75 foot frontage. The investor wants to sell the lots for $337,500 and keep two lots for himself. What does the investor have to sell the lots per front foot
...
10/11/2010
#853 A home sold for $750,000 with a profit of 20% at closing. How much did the home cost originally ? Take your time. The solution is below the wildlife photo. A, $625,000 In this problem you have to remember to add a whole number to the div
...
10/11/2010
#852 The mortgage company decided to lend the owner of a property an amount of money equal to 66.6666% of the appraised value of the property along with an interest rate of 5% annual interest rate. The first years interest in $20,000. A. Wh
...
10/11/2010
#851 Donna purchased a home seven years ago for $650,000. She signed a listing agreement recently and offered the home for sale through the broker at an increase of 30% over what she originally paid for the home. The house was getting any offers
...
10/11/2010
The Saks Equation suggests that : {amv} + {bpo} / 2=avo or av or(appraised market value + broker price opinion divided by 2 = absolute value opinion or absolute value) Example: If the appraised market value is 275000 dollars and the broker price opinion is 24500
...
10/11/2010
