An owner sold his house for $250,000 with a $50,00...

Texas Real Estate National Exam Latest Update

Question Number 104

An owner sold his house for $250,000 with a $50,000 take back. (A take back is seller financing. The seller receives a note for this amount at closing and will collect this amount over the agreed-upon term of the loan.) He paid off his loan of $138,500 and he paid a 5% commission. He had closing costs of $10,000. How much did the seller net at closing?

$227,500

$177,500

$89,000

$39,000

✔ Correct Answer:

$39,000

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Texas Real Estate National Exam Latest Update

Question Number 104

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