Gordon sold his farm for $1.2 million. He purchased the land 18 years ago for $750000
and worked diligently to pay off $280000 of
the loan principal. He will owe each of the
realtors 3.2% and he offered to cover the
buyers' closing costs if they would accept the
property "As is". The buyer's loan is $1 million.
How much will Gordon receive from this sale?
Round to the nearest dollar.
Application Foo
Borrower's Credit Check
Points
Appraisal Foo
Closing Costs
5252
565
2% of Mortgage
$325
5212
5410
5410
$350
5450
Tite Search
Title Insurance
Inspection
Attorney Foo
Documentation Stamp
Processing Fee
0.3% of Mortgage
1.1% of Mortgage