COMPARABLES RETOTD Episode 00087

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COMPARABLES

An abbreviated term used by appraisers to describe properties which are similar in size, condition, location and amenities to a subject property whose value is being determined. The Uniform Standards of Professional Appraisal Practice (USPAP) establish clear guidelines for determining a comparable property. Recent sales of similar properties in nearby areas and used to help determine the market value of a property. Also referred to as “comps.”

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