Hi Stephanie, you got your answers..... whenever you see sold price, or sale price, it means this is the
price seller and buyer have agreed upon...... The seller sets a listing price or asking price, the buyer makes an offer, they negotiate the terms and the final sale price for the property....
Let's say a home is listed for 450 K, Seller and Buyer negotiate and agree on a sale price of 400 K
400 K is the sale price and that is the amount the Buyer has to pay for the property at the closing
There will be most likely some earnest money that the buyer will put initially like may be 5 %
i.e. 20,000 $ and then the Buyer will have applied for a mortgage loan (the lender will require a certain amount of down payment) the initial earnest money, plus the buyers down payment amount plus the loan amount will make up the final sale price....
And as you know each party buyer and seller will have closing costs...
Hope this clarifies things for you.
Sold price or sale price is always the agreed upon full price the buyer pays to the Seller!