QUESTION 8 A property sold for $70,000 with a cash down payment of $10,000. The...
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QUESTION 8 A property sold for $70,000 with a cash down payment of $10,000. The buyer obtained a $60,000 FHA mortgage, including the four points paid by the seller. What is the cash-equivalent sale price? $69,600 $72,600 $67,600 $70,000 QUESTION 9 A subject property has a PGI of $100,000, vacancy is 10%, and OE are $60,000 per year (Use below the line treatment of capital expenditures). In the mortgage market for this type of property, the best rate variable is 8.0% per year with monthly payments, a 25-year amortization, and a maximum 80% loan to value. The equity capitalization rate is 16%. What is the market value of the property? Use the band of investment technique. $282,767 $385,211 $237.986 $198.000
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