please supply full details for the answer.
2006-11-09 06:37:33 · 8 answers · asked by ace 2 in Business & Finance ➔ Renting & Real Estate
15/100 (175,000) + 175,000 = P
2006-11-09 06:41:28 · answer #1 · answered by a_blue_grey_mist 7 · 0⤊ 0⤋
That depends upon a lot of things that can vary.
Seller cost such as inspections, seller warranty, real estate agent commission, improvements, surveys, etc.
If you were to take just 15% of 175,000 that would also leave out the cost to purchase the home initially.
When the seller originally purchased the home they paid all sorts of closing costs. If they financed it then the finance cost and interest payments would have to be factored in to get a true 15% profit.
This can be as complex as you want it to be.
Good luck!
2006-11-09 14:41:51 · answer #2 · answered by wrkey 5 · 0⤊ 0⤋
Are we talking Real-World or a textbook? $201,250 is a pathetic Real-World answer.
To make 15% (excluding taxes), you would have to sell it around $223k. Assume 3% closing costs on the purchase and 7% on the sale (this varies widely depending on the state, mortgage co., listing agreement -- so these are merely ballpark #'s)
$175,000 Purchase Price
$(5,250)Purchase Closing Costs/Fees
$180,250 Net Cost
$222,890 Selling Price
$(15,602)Selling Closing Costs/Fees
$207,288 Net Proceeds
$27,038 Net Gain (207,288 - 180,250)
15%Net Return (27,038 / 180,250)
2006-11-09 15:06:28 · answer #3 · answered by CPAKeith 3 · 0⤊ 0⤋
All you do is take the original price $175,000 x 15%= $26,250 Then you add the $26,250 to the original price =$201,250.
2006-11-09 14:41:55 · answer #4 · answered by Diamonds_4Ever 3 · 0⤊ 0⤋
$201,250 ($175,000 X 115%)
2006-11-09 14:40:08 · answer #5 · answered by jim 6 · 0⤊ 1⤋
Why have you posted this question 4 times within minutes?
2006-11-09 14:47:22 · answer #6 · answered by educated guess 5 · 0⤊ 0⤋
$175,000.X15%=$26,250. $175,000.+$26,250.=$201,250.
2006-11-09 14:48:37 · answer #7 · answered by Anonymous · 0⤊ 0⤋
$201,250
2006-11-09 14:39:51 · answer #8 · answered by Anonymous · 0⤊ 1⤋