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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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50% - Moderately

Sale Price


Synonyms:final sale price, total sale price
Filed Under: financial-banking, real-estate
Tags: banking, realty
 

Definition of sale price

sale price
1. 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.

Related Terms and Acronyms:

  • agreement of sale (AOS)   A document in which a property's buyer and seller approve the price and other terms of the transfer of title.
  • appraised value   An educated opinion of how much a property is worth.
  • lending value   The property value for mortgage purposes. Usually the lesser of appraised value or sale price.
  • monetary value   A property's monetary value is its worth if sold at this moment in time.
  • property value   The worth of a piece of real estate, based on the price a buyer and seller would negotiate.
  • purchase price   The total selling price of the home, including the cash down payment and the principal on the loan.
  • sales contract   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."

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