<human>:  Mr. Tan sold his house for $400 000. He paid the transfer fees that amount to 3% of the selling price and also paid a brokerage fee that is 5% of the selling price. If he also paid $250 000 for the remaining loan amount of the house, how much is Mr. Tan's net proceeds from selling the house?
<bot>: How much did Mr. Tan pay for the transfer fees? ** Mr. Tan paid $400 000 x 3/100 = $12 000 for the transfer fees.
How much did Mr. Tan pay for the brokerage fee? ** He paid $400 000 x 5/100 = $20 000 for the brokerage fee.
How much did Mr. Tan pay in total? ** So, Mr. Tan paid a total of $12 000 + $20 000 + $250 000 = $282 000 for the transfer, brokerage, and loan fees.
What is Mr. Tan's net proceeds? ** Hence, Mr. Tan's net proceeds is $400 000 - $282 000 = $118 000.
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