What advice would you have given the sellers

Assignment Help Accounting Basics
Reference no: EM13511044

A couple decided to sell their house in Washington, D.C., without the aid of a real estate broker. Their asking price was $225,000, which they believed was about $15,000 less than the price they would need to list the property with a broker. They realized they would probably have to accept an offer as low as $220,000. Another couple looked at the house, liked it, and offered to buy it for $223,500. The sellers were delighted and suggested that they would fill in the blanks on a form sales contract used by many of the local real estate brokerage firms, and both parties could sign it. The buyers, however, objected, saying they preferred to write their own contract. The wife was an attorney who worked for the U.S. State Department, specializing in international law.

What advice would you have given the sellers?

Reference no: EM13511044

Questions Cloud

What does the outcome depend on : If the index remains unchanged for the second adjustment period, what will be the interest rate on the loan? If there is more than one possible answer, what does the outcome depend on?
The balance sheet : Derivatives are financial instruments whose value is based upon other financial instruments, stock indexes or interest rates, or interest rate indexes.
Determine the force of kinetic friction acting on the box : A 25.0-kg box is released from rest on a rough inclined plane tilted at an angle of 33.5e to the horizontal. Determine the force of kinetic friction acting on the box
Calculation of the effective borrowing costs : Give some examples of up-front financing costs associated with residential mortgages. What rule can one apply to determine if a settlement (closing) cost should be included in the calculation of the effective borrowing costs?
What advice would you have given the sellers : A couple decided to sell their house in Washington, D.C., without the aid of a real estate broker. Their asking price was $225,000,
Purpose of the risk-based capital requirements : What is the primary purpose of the risk-based capital requirements that Congress enacted as part of the Financial Institutions Reform, Recovery, and Enforcement Act
Estimate how far does he slide : A 68-kg base runner begins his slide into second base when he is moving at a speed of 4.2 m/s. How far does he slide
Calculate the mechanical energy lost due to friction : A sledge loaded with bricks has a total mass of 17.0 kg and is pulled at constant speed by a rope inclined at 19.9° above the horizontal. What is the mechanical energy lost due to friction
Difference between contract rent and market rent : Why is this distinction more important for investors purchasing existing office buildings than for investors purchasing existing apartment complexes?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Problem regarding shares of no-par common stock

Pinson Corporation was organized on January 1, 2010. It is authorized to issue 20,000 shares of 6%, $50 par value preferred stock and 500,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were ..

  Price earnings ratio on common stock

Orchard"s net income for the year ended December 31 was $50,000. The yearly preferred dividend was declared. No capital stock transactions occurred. What was the price earnings ratio on Orchard"s common stock at December 31?

  Preferred shareholders-common stockholders

What amount of dividends must the company pay the preferred shareholders in 2009 if they wish to pay the common stockholders a dividend?

  Prepare a cost of goods sold section for year ending

Sales Returns and Allowances $3,000; Freight-out $1,000; and Purchase Returns and Allowances $2,000.The ending merchandise inventory is $25,000. Prepare a cost of goods sold section for the year ending August 31 (periodic inventory).

  Shlee corporation issued a 7-year 67300

shlee corporation issued a 7-year 67300 zero-interest-bearing note to garcia company on january 1 2011 and received

  Batpro makes metal baseball bats each bat requires 1 kg of

batpro makes metal baseball bats. each bat requires 1 kg. of aluminum at 20 per kg. and 0.50 direct labor hours at 16

  Write down a 750- to 1050-word paper in apa format

write a 750- to 1050-word paper in apa format including citations and references summarizing your ideas about internal

  Traits refers to high levels of effort

Which one of the following traits refers to high levels of effort and is characterized by achievement, motivation, ambition, energy, tenacity, and initiative?

  Analysis of break even

Pizza Restaurant has the following revenue and Cost Functions: Find out break-even output. Find out quantity.

  Realized and recognized gain or loss

Sarah owns 100 shares of Drake,Inc. (adjusted basis of $50,000). On October 11, 2010, she sells the 100 shares for their fair market value of $45,000. On November 5, 2110, she purchases 125 shares of Drake stock for $57,000. a) What is Sarah's rea..

  Global computer corporation manufactures its laptops in

global computer corporation manufactures its laptops in asia and sells laptops internationally. the company produces a

  Crockett company uses a job costing system and had a

crockett company uses a job costing system and had a beginning work in process inventory balance of 33200. during the

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd