Real Estate Appraisal

What is a comparable sale?

A comparable sale is a property, that is similar to the subject property in most respects, is located in the similar (nearby) location, and has sold recently at arms length. The selection of comparable sales is in most residential appraisals, the single most important determining factor in establishing value. It is the appraisers responsibility to adequately research the local real estate market and determine which comparable sales best represent the value characteristics of the subject property.

« See all FAQ's in this category

« See all Frequently Asked Questions