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What are "comps"?

Posted by: raindrop 6 years, 4 months ago

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Realtors use "comps," a shortened term for comparable sales, to establish the value of a home through a Comparable Market Analysis.

Establishing good comps depends on a number of factors including: Conditions of the sale (i.e. short sale, foreclosure, traditional), Financing Conditions, Market Conditions (how long ago did the home sell and has the market changed since then?), locational comparability, physical comparability.

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