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comparables |
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Comparables Characteristics of an asset that are similar to those of another asset. Comparables are especially important in real estate when appraising the value of a property. For example, if an appraiser is attempting to determine the value of a house, he may use the comparables of other houses in the neighborhood, such as the number of bedrooms or the square footage, when making the determination. comparables In an appraisal, recently sold or leased properties similar to the property under analysis,such that a review of the sales prices of the comps will assist in determining a value of the subject property.The properties need not be identical,as long as they are reasonably similar and the appraiser can make adjustments for features that differ.These may include property amenities,age of the improvements, traffic counts and market area, time and conditions of the sale, and anything else recognized by the market as having value. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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