Guest hakim craddock Report post Posted November 22, 2003 i keep hearing people talking about comps what are comps? please you normal words when describeing. im a newbie. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted November 22, 2003 Hakim, comps is an abbreviation for comparable sales.In other words, an investor says "I ran the comps and this property has an FMV of $250K." This means he/she reviewed the recent sales of similar properties to determine how much the subject property is worth. (The FMV is Fair Market Value.)To determine value we need to compare sales of similar properties to the subject property we are interested in. What buyers have recently paid for a property similar to yours will give you an idea what it is worth. Share this post Link to post Share on other sites
