What is the actual amount paid, or to be paid, for a property in a particular transaction called?

The term commonly used to describe the actual amount paid, or to be paid, for a property in a specific transaction is known as the Selling (Market) Price. This designation conveys that the price reflects the current market conditions at the time of sale and is the agreed-upon figure between the buyer and seller. It emphasizes that this price can fluctuate based on various factors including demand, property condition, and negotiation outcomes.

While "Selling Price" and "Transaction Amount" might seem relevant, they lack the inclusion of "Market," which highlights that this price is based on market dynamics. "Market Value" refers to an estimation of what a property could sell for under normal conditions, which does not necessarily reflect the actual transaction price.