Land Description (math)

Question 1

How do you solve this question?

A property is appraised at the request of a lender in order to provide a mortgage. The property value is determined to be $192,000. The lender provides a mortgage in the amount of $149,760. What is the loan-to-value ratio?

Answer 1

149,760 divided by 192,000.

It’s simply asking the percentage of mortgage to value.

Question 2

What is the answer?

A property is appraised at the request of a lender in order to provide a mortgage. The property value is determined to be $192,000. The lender provides a mortgage in the amount of $149,760. What is the loan-to-value ratio?

Answer 2

78%

Question 3

How do you solve this question?

If Bob received $3,150 as his 25% of the total commission on the sale of a $90,000 property, then what is the rate of the total commission?

Answer 3

1 - multiply 3,150 x 4 to see what the total commission was on the sale.
2 - divide that number by 90,000 to get the percentage rate of commission to the total sale price.

Question 4

What is the answer?

If Bob received $3,150 as his 25% of the total commission on the sale of a $90,000 property, then what is the rate of the total commission?

Answer 4

14%

Question 5

What is this question looking for?

A broker shares the commission that is earned on the sale of real estate with a salesperson in a ratio of 3:2, respectively. If the salesperson sells a property for $148,000, on which the office commissions are 5% of the sale price, then how much more would the broker earn than the salesperson?

Answer 5

How much more the broker earned than the salesperson

Question 6

The first step to this question is finding out how much the office (salesperson) and broker commission together on this sale. How do you find that?

A broker shares the commission that is earned on the sale of real estate with a salesperson in a ratio of 3:2, respectively. If the salesperson sells a property for $148,000, on which the office commissions are 5% of the sale price, then how much more would the broker earn than the salesperson?

Answer 6

Multiply 148,000 by .05 since it’s 5% that they are making off of $148,000

Question 7

You find out that the broker and salesperson make $7400 together from this sale. How do you find their separate commissions earned based on the 3:2 ratio mentioned in the question?

A broker shares the commission that is earned on the sale of real estate with a salesperson in a ratio of 3:2, respectively. If the salesperson sells a property for $148,000, on which the office commissions are 5% of the sale price, then how much more would the broker earn than the salesperson?

Answer 7

You divide 7400 by 5, since 3:2 is five added together. The answer is 1480. Then you multiply 1480 by 3 (for the first part of the ratio) which is 4,440 and multiply 1480 by 2 (for the second part of the ratio) which is 2960. So now you can see that the 3:2 ratio is 4,440:2,960 , which adds up to 7400.

Question 8

You find out that the broker makes $4440 off this sale and the salesperson makes $2960. What is the final step in this question?

A broker shares the commission that is earned on the sale of real estate with a salesperson in a ratio of 3:2, respectively. If the salesperson sells a property for $148,000, on which the office commissions are 5% of the sale price, then how much more would the broker earn than the salesperson?

Answer 8

4,440 - 2,960 to find the difference in the brokers commission versus the salespersons commission.

Question 9

What is the answer to this question?

A broker shares the commission that is earned on the sale of real estate with a salesperson in a ratio of 3:2, respectively. If the salesperson sells a property for $148,000, on which the office commissions are 5% of the sale price, then how much more would the broker earn than the salesperson?

Answer 9

$1480