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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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38% - Moderately

Asking Price


Synonyms:cost, price tag, relative value
Filed Under: real-estate
Tags: realty
 

Definition of asking price

asking price
1. The amount of money the seller requests for the property or item. This is not the same as the appraised value.

Related Terms and Acronyms:

  • assessed value (AV, ast)   A municipal or provincial government's determination of a property's worth for tax purposes.
  • bidding war   Multiple, competing offers for a piece of property or item that escalate the price. Usually results in a happy seller.
  • lending value   The property value for mortgage purposes. Usually the lesser of appraised value or sale price.
  • purchase price   The total selling price of the home, including the cash down payment and the principal on the loan.

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