Definition of Sale Price
- The ultimate price that a buyer pays for an asset. In real estate, the sale price is the final number negotiated by the buyer and the seller for the sale of property.
- final sale price
- total sale price
Related Terms and Acronyms
- Property Value — Definition,
- The worth of a piece of real estate, based on the price a buyer and seller would negotiate.
- Agreement of Sale (AOS) — Acronym,
- A document in which a property's buyer and seller approve the price and other terms of the transfer of title.
- Monetary Value — Definition,
- A property's monetary value is its worth if sold at this moment in time.
- Lending Value — Definition,
- The property value for mortgage purposes. Usually the lesser of appraised value or sale price.
- Sales Contract — Definition,
- A legal written document that details the agreed upon conditions between a seller and a buyer regarding the sale of a specific property. Also called an "Agreement of Sale."
- Appraised Value — Definition,
- An educated opinion of how much a property is worth.
- Purchase Price — Definition,
- The total selling price of the home, including the cash down payment and the principal on the loan.