Practical Applications 3

award winning roses What would need to be specifically excluded for the owner to keep in a sales contract? $470.14 debit to the buyer, credit to the broker ($165,000 (loan amount) x .065 (Interest Rate) = $10,725 (annual interest) / 365 (days in year) =$29.38356 (interest per day) x 16 (days owned by buyer in May -May 16-31) = $470.14 Debit to the buyer (because they owe the interest) credit to the broker (because the money is being paid into the escrow account controlled by the broker/closing agent so that they can cut a check for the interest to the lender.) A new loan for $165,000 is taken out at 6 1/2 % by the buyer, the closing is May 16. How will the interest be shown on the settlement sheet? file a fair housing complaint with HUD and try to collect a commission