What does the figure of $950,000 specified in a signed sales agreement represent?

The figure of $950,000 specified in a signed sales agreement represents the negotiated price between the buyer and the seller. This price results from discussions and agreements made during the property sale process, reflecting what both parties have consented to pay and receive, respectively. It is the amount that is legally binding in the context of the agreement and signifies the final figure that the buyer has agreed to pay for the property.

In contrast, market value typically refers to the estimated price a property would sell for on the open market, influenced by various factors like comparable sales and market conditions. The listing price, on the other hand, is the amount that the seller initially proposed when putting the property on the market, and it may not reflect the final agreed-upon price. Estimated value often pertains to appraisals or assessments usually determined by external factors or expert evaluations rather than direct negotiations between the parties involved.