Since the seller wants to net $165,000 from the house sale after closing costs and broker's fee, the gross sales price will be $178,335.
Data and Calculations:
Net sales price = $165,000
Closing costs = $2,635
Broker's fee rate = 6%
Gross sales price = $178,335 ($167,635 /1 - 6%)
Broker's fee in dollars = $10,700 ($178,335 x 6%)
Thus, if the seller wants to net $165,000 from the house sale after closing costs and broker's fee, the gross sales price will be $178,335.
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