6. Brokers, real estate agents, and appraisers often use comparables (comps) to provide professional advice on a property’s value. 7. Mortgage lenders rely on appraisers to assess a property’s value before granting a mortgage to homebuyers. 8. Online platforms and apps have made it easier ...
To find appropriate comps for a house — whether it’s one you want to sell or want to buy — your first step is to get clear on the property. Make a list of all the details that define it, such as where it’s located, its size, how much land it sits on, the number of ...
while underestimatinga home’s valuemight leave money on the table. To price your home perfectly from the start, consult localreal estate comps. This information about recently sold properties in your area gives you an idea of what comparable homes around you are selling for, thus helping you ...
Narrowly filter your search for comps When you’re ready to find comps, you can choose from sites like Zillow, Trulia, Redfin, or Realtor. You’ll want to filter your searches to an area very close to your house (within blocks if possible) and with similar characteristics. If you’re no...
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6. Find the right real estate agent for you Full transparency, there’s plenty of healthy debate about whether you should find a real estate agent or a mortgage lender first. Personally, I fall into the former camp for one simple reason: a great agent can connect you to a great lender,...
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If you think the appraiser has the value wrong, first review the written appraisal for errors. Check whether the comps the appraiser chose are reasonably similar to your home. If you still think the price is incorrect, you can appeal the valuation with your lender or ask it to order a sec...
Intellectual property (IP): Proprietary technology, patents, or unique processes add value by creating a competitive edge. While IP doesn’t always add to the purchase price, it can boost the multiple since it puts upbarriers to entryand adds the potential for steady earnings. ...