What is the sales price of a property?

The sales price of a property is essentially the amount that both parties—the buyer and the seller—agree upon during the sale transaction. This figure is crucial as it represents the final compromise reached after negotiations and reflects what the buyer is prepared to pay and what the seller is willing to accept. This agreed-upon amount is recorded in the sales contract and is the figure that will be used for financial and legal purposes in the transaction.

Other options focus on different aspects rather than the definitive price established in a transaction. While the value set by an appraiser can provide a benchmark or fair market value, it does not represent the actual transaction price, as appraisals can differ from the negotiated sale price. The price a buyer is willing to pay accounts for personal valuation and perception but doesn’t encapsulate the final agreement unless both parties come to terms. Similarly, the price listed by the seller may serve as a starting point or ask price but does not guarantee that the sale will occur at that amount; negotiations can result in a different final price. Thus, the amount agreed upon in the sale transaction is the most accurate answer when determining the sales price.