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Your client has provided you with the documents and information you need to do a comparative market analysis (CMA) of his property. After following the
Your client has provided you with the documents and information you need to do a comparative market analysis (CMA) of his property. After following the steps of the real estate appraisal process and using the comparative sales approach, you conclude that the listing price of his property is $450,000. The ratio sale price vs. listing price of the property in this area similar to your client's is on average 94%, which takes into account a negotiation margin of 6%. Your commission rate is 5% plus applicable taxes. How much is the vendor's net proceeds amount before reimbursing the outstanding mortgage balance: (2 points)
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