Ah, the complexity of comps. In college, comps are stressful final exams. In restaurants, to “comp” something means to give it away to a customer, usually because of a fly in the soup. In real estate circles, comps, a shortened term for comparable sales, ultimately provide guidance for the list price and potentially for the mortgage too.
To determine comps, an agent looks at similar properties that have recently sold in your area. An appraiser will do the same. As you seek to understand how comps affec... read more
Posted by Anna Jotham on August 09, 2017 in
Real estate agents often become the go-to person for buyers’ questions—especially first-time buyers and people relocating to the area. What do you think I should offer? Which lender do you recommend? How quickly can I close?
Oftentimes, however, home buyers don’t think to ask about title insurance. They don’t think about all the potential issues that may botch their purchase. That’s why it’s up to agents to advise their clients on title insurance and highly encourage it ... read more