The 'Asked Price' is the price a property owner sets for their property when they intend to sell it. It represents the amount they are seeking from buyers. The term 'Asked Price' is commonly used in real estate transactions and is often seen as the initial price point which may be negotiated.
Commission paid by the seller in a transaction to the broker who arranged the sale, based upon some percentage of the selling price. A brokerage allowance usually refers only to transactions in which the broker does not take possession of the goods sold.
Cash Equivalence refers to the market value of an item if it were to be sold for cash. In real estate, this often represents the true value of a property, which can differ from the stated selling price due to various financial arrangements.
The contract price in an installment sale, for tax purposes, is generally defined as the selling price less the existing mortgages assumed by the buyer. This definition is crucial for correctly determining the taxable portion of payments received from the sale.
A method to establish the selling price of a product or service by estimating the total cost and adding a percentage mark-up to achieve a profitable price.
An estimation of the financial worth of a property if it were to be sold in the present-day market, factoring in current economic conditions, comparable property sales, and general real estate trends.
Net Contribution refers to the excess of the selling price over variable costs per unit, signifying the residual positive effect from an action taken. It's a critical metric in assessing the profitability and efficiency of various business operations and decisions.
