Comparable Sales
Definition of "Comparable sales"
Market analysis method where sales of similar properties in proximity neighborhoods are compared. The comparable sales methodology is extremely useful if the properties being compared are very similar and the sales are recent. It is widely use by real estate brokers to give approximate market valuations to buyers and sellers of real estate. Other factors enter into comparable sales including condition, location and property amenities.
Popular Real Estate Terms
Literature, samples, equipment, tools, and other useful information that real estate brokers or agents can use for demonstration purposes to prospective buyers. ...
Number of small holes in a wall allowing water to drain from it. This makes the walls able to withstand water pressure. ...
A land property estate contingent upon the occurrence or lack of occurrence of a particular event whereupon it can be created, augmented, or dismantled. ...
Also called a rollover mortgage. Provides a borrower with a fixed-rate mortgage that expires at a preestablished time, such as in four years. This permits the lender and borrower to ...
Lien on a given property, such as an person's house as a collateral for a loan. ...
There’s a lot of confusion regarding the hazard insurance definition. Many people think it’s a synonym for homeowners insurance but they’re wrong. Hazard insurance is ...
Surface level of water. ...
Funds of property bestowed upon a person or an institution. The income is used to serve a specific purpose for which the endowment was intended. ...
Same as term appraisal: Valuation assessment of real property by an expert third party for the following purposes: developing a realistic market price. setting a market value at the time ...
Have a question or comment?
We're here to help.