What will be the seller's equity if a home sells for $450,000 with expenses of $5,200 and a mortgage payoff of $347,700?

To determine the seller’s equity in the home after the sale, you must calculate the net proceeds from the sale and subtract any outstanding mortgage debt.

First, calculate the total costs associated with selling the home. The sale price is $450,000, and the expenses related to the sale are $5,200. The mortgage payoff required is $347,700.

The net proceeds from the sale can be calculated as follows:

1. Net Sale Price: Subtract the expenses from the sale price:

(450,000 - 5,200 = 444,800)

2. Calculate Equity: Subtract the mortgage payoff from the net sale price to find the seller's equity:

(444,800 - 347,700 = 97,100)

However, to clarify the correct resolution of the results: correcting the previous math regarding the sale's expenses or calculations would yield a result closer to what is needed to identify whether the total equity results in a range around one of the options represented in the question prompt. Following through properly with the calculations should lead to understanding the value of how to manage costs and profits effectively when considering the sale of property.

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