what are real estate comps

Best answer

Real estate comps arerecently sold homes that are like the property you檙e trying to buy or sell in terms of location,size,condition and features. Comps ?an abbreviation of omparable sales??are used to determine a home fair market value through the sales comparison approach to pricing property.

People also ask

  • What are real estate comps and why are they important?

  • It a collection of nearby comps, put together to help an agent and seller decide on a good listing price. Savvy real estate agents regularly run comps (even when not tied to one particular deal) to keep an eye on their local market and gauge overall trends. How to find real estate comps

  • What is a comp when selling a house?

  • A comp, which is an abbreviation for comparable sale, is a recently sold home in your area that similar to your home in location, size, condition and features. How sellers use real estate comps Sellers, especially those selling for sale by owner (FSBO), use comps to determine the right listing price for their home.

  • What are comps?

  • What Are Comps? Understanding a Key Real Estate Tool What Are Comps? Understanding a Key Real Estate Tool Whether you’re buying or selling a home, comparing similar homes can yield a wealth of helpful information. omps,?or comparable sales, is a term anyone on either side of a real estate transaction should know well.

  • How to get real estate comps for investment properties?

  • In real estate, there are three ways of how to get real estate comps. As a real estate investor, especially if you are a beginner, you get to choose. So, here is how to go about finding real estate comps for investment properties: One way of finding real estate comparables is to hire a home appraiser to determine the home value.

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