Sale price
The price a home actually sells for at closing. It can differ from the list price and becomes public record in most states.
Also called: sold price, selling price, purchase price, contract price
Related terms
The price the seller advertises the home for. It is a starting point for negotiation, and the final sale price can be above or below it.
A home whose sale has closed and ownership has transferred to the buyer. Sold prices are public in most states and are used as comps to price other homes.
The value the appraiser puts on the home in the report. Lenders base the loan on the lower of this number and the purchase price.
Recently sold homes near the subject property that are similar in size, age, and features. Appraisers and agents use them to estimate value.
The price a home would likely sell for between a willing buyer and seller, both informed and not under pressure. Appraisals and CMAs both try to estimate it.