What is comps?
Comps (comparables) are recently sold properties similar to the subject property in location, size, age and features, used to estimate its value.
In practice
- The closest, most recent and most similar sales carry the most weight.
- Agents use comps in a CMA; appraisers use them in an appraisal.
General information, not legal, tax or financial advice. Rules vary by state and MLS.
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