A home sells for $470,200. What are the seller's proceeds after accounting for expenses such as brokerage fee and mortgage payoff?

To determine the seller's proceeds from the sale of a home, it's essential to subtract all relevant expenses from the sale price. In this case, the home sold for $470,200. The calculation for proceeds involves deducting both the brokerage fee (the commission paid to the real estate agents involved in the transaction) and the mortgage payoff amount (the remaining balance on the seller's mortgage loan).

If the seller has a total of $299,575 in expenses related to the brokerage fee and mortgage payoff, subtracting these expenses from the sale price would yield:

Sales Price: $470,200

Less: Total Expenses ($299,575)

Proceeds: $170,625

Thus, after accounting for these expenses, the seller's proceeds amount to $170,625. This is why this figure is the correct answer, reflecting the true financial return the seller receives from the sale after fulfilling their obligations.