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What are comparables, or ‘comps’?

April 26, 2017comparables

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What are comparables, or ‘comps’?

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Posted

Comps are recently sold properties in the area of a house that have similar features and size. Appraisers use these to determine the fair market value of a particular house. Comps can also be used when making an offer on a house to determine a fair offer price.