Comps, also known as comparables is a term used in real estate appraisals and it refers to the properties that have features similar to the property that is being appraised. Comps are identified by the real estate appraiser or by the surveyor using special methods as well as through market analysis and they are relied on to establish the value of the property being appraised. Comps being an essential component of the final value estimate, their reliability is critical for the correctness of the final figure, that’s why experts use multiple factors when determining them:
Originally Posted on: Commercial Appraisals and the Need for Reliable Comps via Blogger Commercial Appraisals and the Need for Reliable Comps
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January 2019
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