comparables
Properties that an appraised property is compared against during the appraisal process. These comparable properties are similar to the property being considered by way of size, location and amenities. They have recently been sold and provide a baseline for determining the fair market value of the appraised property. These are also known as comps.
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The following dictionary definition list is provided for clarification only. Note that many definitions are not directly applicable to mortgages, loans or other financial terminology in this glossary. Used with permission: WordNet 2.1 Copyright 2005 by Princeton University. All rights reserved.
comparables
Adjective: comparable (able to be compared or worthy of comparison)
Adjective: comparable, corresponding, like (conforming in every respect) "boxes with corresponding dimensions"; "the like period of the preceding year"
- comparables -
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