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All math exercise for, Exams of Real Estate Management

University of San Diego (USD)Real Estate Management
Prof. Naida Austin

All real estate math California, questions and execise

Typology: Exams

2024/2025

Uploaded on 02/13/2025

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All REAL MATH CHEAT SHEET
SALESPERSON ONLINE COMPUTRAINER
Question #84
What is the legal description of the parcel in the figure below? How many acres is the parcel?
Answer: The legal description is E ½ NW ¼ SW ¼ of Section 12 and it is 20 acres.
E ½ NW ¼ SW ¼ of Section 12
640 / 2 / 4 / 4 = 20 acres
-Question #121
A property has a rental income of $1300 per month. If the closing date is June 20, how much rent is owed to the
buyer at closing (use the 30 day method)?
Answer: Please see chart below.
Rent per day = $1300 / 30 = $43.33
Rent owed to buyer = $43.33 x 10 = $433.30
- A property sold for $33,700. This was 7% less than what the property originally cost. The original cost was
approximately:
A: $36,236; (1) 100% - 7% = 93% (2) 93% of cost = $33,700 (3) $33,700 divided by .93 = $36,236.56
- Mr. and Mrs. Martin sold their home, with escrow closing on March 1. The annual property taxes are $1,440, the first
installment has been paid, and the second installment is prorated on the closing date. The amount of taxes charged to the
buyer would be approximately:
The buyer’s portion of the taxes is $480.
Assume that the annual property taxes on a home are $1,380; that the home is being sold as of May 1; and that the taxes
for the current year have been paid. If the buyer and seller agree to prorate the property taxes as of the sale date, the
buyer's portion of the taxes would be most nearly:
The buyer's portion of the taxes would be $230.
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All REAL MATH CHEAT SHEET SALESPERSON ONLINE COMPUTRAINER Question # What is the legal description of the parcel in the figure below? How many acres is the parcel? Answer: The legal description is E ½ NW ¼ SW ¼ of Section 12 and it is 20 acres.

E ½ NW ¼ SW ¼ of Section 12

640 / 2 / 4 / 4 = 20 acres

- Question

A property has a rental income of $1300 per month. If the closing date is June 20, how much rent is owed to the

buyer at closing (use the 30 day method)?

Answer: Please see chart below.

Rent per day = $1300 / 30 = $43.

Rent owed to buyer = $43.33 x 10 = $433.

- A property sold for $33,700. This was 7% less than what the property originally cost. The original cost was approximately: A: $36,236; (1) 100% - 7% = 93% (2) 93% of cost = $33,700 (3) $33,700 divided by .93 = $36,236.

  • Mr. and Mrs. Martin sold their home, with escrow closing on March 1. The annual property taxes are $1,440, the first installment has been paid, and the second installment is prorated on the closing date. The amount of taxes charged to the buyer would be approximately: The buyer’s portion of the taxes is $480. Assume that the annual property taxes on a home are $1,380; that the home is being sold as of May 1; and that the taxes for the current year have been paid. If the buyer and seller agree to prorate the property taxes as of the sale date, the buyer's portion of the taxes would be most nearly: The buyer's portion of the taxes would be $.

Spatial or Area Measurements (Length x Width) 1 acre = 10 square chains; 160 square rods; 4,840 square yards; 43,560 square feet A section = 1 square mile or 640 acres A township = 36 square miles A quarter section = 160 acres

- Karen recently sold a home for 6% commission. If her commission was $20,700. How much did the property sell for?

 Sabes que $20,700 es el 6% del precio de venta.

 Entonces, divides $20,700 ÷ 0.06 para encontrar el precio total de la casa, que es $345,.

- How many square feet does one acre contain?

A. 43,

**- Seller Gary needs to net $15,000 on the sale of his home. His loan payoff is $160,000, his closing costs are $5,500, and commission is 7 %. What is the lowest offer Gary can accept? $15,000 + $160,000= $175, 175,000 / 0.95 = $184,210. $184,210.526+ $5,500= $189,711 (round up)

  • Agent Amanda just closed on a home that sold for $525,000. Her commission rate was 5% with a 50/50 co-broker with the selling broker, and a 60% split with her broker. How much did Amanda receive? $525,000 x 5% = $26, $26,250 split 50/50 = $13, $13,125 x 60% = $7, -A new roof cost $7,500 and the economic life of the roof is 30 years. Using the straight line depreciation method, what would the value of the roof be after 5 years? $7,500 / 30 years = $ $250 x 5 years = $1,250 total depreciation $7,500 - $1,250= $6,250 value
  • How many acres are in a lot that measures 250 x 325? $150,000 is 100% of the current value To add 5% it is expressed as 1.05 = 105% $150,000 x 1.05 x 1.05 x 1.05 x 1.05 x 1.05 = $191,** ACRONYM MEANING ***M.A.R.I.A. - Fixture test Method Adaptability Relationship Intention Agreement P.E.T.E. - Government Powers -Police power -Eminent domain -Taxation -Escheat **T.T.I.P. - Joint Tenancy Time. Title. Interest. Position. ***C.L.O.C. - Valid Contract (orLOCC) I prefer LOCC, think Law... Competent. Legal use. Offer and acceptance. Consideration. I prefer LOCC, think Law...:must be lawful to start with, Legal use Offer & acceptance....someone willing to offer and get into contract Competent party S.T.U.D. - Elements of Value Scarcity. Transferability. Utility. Demand. A.C.O.L.D. - Duties of a Think "Don't catch A COLD" Accountable. Care and Skill. Obedience. Loyal. Disclose all information.

S.T.U.D – Elements of Value This acronym refers to how property is valued. Scarcity – the fewer comparable properties, the higher the value Transferability – must be transferable with a clear title Utility – how property can be used Demand – when demand is high, value increases T.T.I.P – Joint Tenancy This acronym refers to the four factors that determine joint tenancy. Time – owners must get titles at the same time Title – each owner’s name must be on the title Interest – owners must have equal ownership Possession – owners have equal rights to possession of the property