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5. You are assisting in the closing of the sale of a home. The contract price for the home is $86,500. The seller owes a
5. You are assisting in the closing of the sale of a home. The contract price for the home is $86,500. The seller owes a real estate broker a commission of 6 percent of the sales price and other closing costs of $600. In addition, an outstanding loan on the property in the amount of $28,400 is to be paid at closing. In addition, real property taxes for the current year in the amount of $2150 are unpaid. The tax year is the calendar year, and the closing is taking place on August 15. In preparing the Uni-form Settlement Statement, how much net money would the seller take home from the closing
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