The Bourassas decide to sell a home for $460,000. They are charged a real estate commission of 8% of the selling price, title insurance that is 1.2% of the selling price, and an escrow fee of $875. (a) What amount (in dollars) do the Bourassas receive after fees? (b) What percentage of the selling price was fees? Round your answer to the nearest percent.

The Bourassas decide to sell a home for $460,000. They are charged a real estate commission of 8% of the selling price, title insurance that is 1.2% of the selling price, and an escrow fee of $875. (a) What amount (in dollars) do the Bourassas receive after fees? (b) What percentage of the selling price was fees? Round your answer to the nearest percent.

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter11: Property Dispositions

Section: Chapter Questions

Problem 71IIP

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