What Does Selling Price Mean?
Selling price is the final amount of money that a buyer and seller have agreed upon when a house is sold.
Real Estate Agent Explains Selling Price
Selling price differs from list or asking price because it reflects the real and current value of a home. Because homes are frequently purchased through negotiation, expectations and feelings on value are eliminated (which are factors in the list price) and the true value is settled upon. The selling price of a home may be more, less or equal to the list price.
Why Does It Matter?
Selling price is a much better indicator of market values than asking price. It shows the true value of a property at an exact time. There is no way to know the exact selling price of a home without selling it – anything else would just be an estimate of value. However, it should be noted that the exact value of a home could be seen as constantly changing, and the selling price is just the home’s value at that particular moment.
by +Alan F Macdonald REALTOR® | Copyright © – gimme-shelter.com
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