Feb 8 • General discussion
Comping Tip of the Week
One of the biggest comping mistakes investors make is chasing the best-looking sale instead of the most competitive sale.
A good comp isn’t:
- The highest price
- The nicest flip
- The one that makes the deal work
A good comp is a property that would have competed for the same buyer as your subject at the time it sold.
When you’re comping, ask:
- Would a buyer realistically choose between these two homes?
- Same area, same property type, similar utility?
- Or am I stretching because I like the number?
Lenders and appraisers care far more about substitutability than price optimism.Comp smarter by prioritizing who the buyer is, not what the price was.
That mindset alone will save you from a lot of appraisal surprises.
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Comping Tip of the Week
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