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Chapter 15 Practice Questions - Page 2

Chapter 15: Real Estate Related Computations And Closing Of. Practice Florida real estate questions and review the explanation for each answer. Page 2.

35 practice questions

  1. Chapter 15 A 15.3-acre parcel of land in Duval County sells for $9,550 per acre. What is the documentary stamp tax on the deed?
  2. Chapter 15 How is the principal balance of an assumed mortgage entered on the Closing Disclosure?
  3. Chapter 15 How are prorated property taxes (which are paid in arrears) entered on the Closing Disclosure?
  4. Chapter 15 How is the purchase price entered on the Closing Disclosure?
  5. Chapter 15 The closing date is October 20. The buyer is assuming the seller’s existing mortgage loan, which has a principal balance of $315,000 at a 5.5% interest rate. The day of closing is charged to the buyer. What is the interest proration for the month of closing, and how is it entered on the Closing Disclosure?