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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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Bargain Sale


Synonyms:cheap, discounted, less than market value, under valued
Filed Under: real-estate
Tags: realty
 

Definition of bargain sale

bargain sale
1. A bargain sale refers to purchasing a property or an item for less than the market value.

Related Terms and Acronyms:

  • backup offer   A bid for a property that the owner will consider if the current transaction falls through.
  • comparative market analysis (CMA)   A method of estimating a property's value by comparing the sales prices of similar properties that have sold recently.
  • low ball offer   A way-below-market bid a buyer makes on a property or item.
  • market value (MV)   Also known as "Fair Market Value." The estimated value of a property which a seller could expect to receive under normal conditions.
  • probate sale   Sale of property after the death of the owner, supervised by a court, with proceeds divided among creditors and heirs.

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