Question

Imagine you find a property with a market value of $330,000, and the seller agrees tosell it to you for $275,000. You flip the purchase and sale agreement to anotherinvestor for a fee equal to 10% of the profit in the deal. How much is your fee?O $3,300.O $2,750.$33,000O $5,500

Answer 1

First let's calculate the profit in the deal, subtracting the market value and the selling value:

$330000-275000=55000$

So the profit is $55,000.

Now, calculating the fee of 10% of the profit, we have:

$10\text{\% of }55000=0.1\cdot55000=5500$

So the fee is $5,500, therefore the correct option is the fourth one.