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EXAM REVIEW
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Texas Real Estate National Exam Latest Update
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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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