What does comps mean in reselling?

comp refers to the amount of money that a seller gives to a buyer as a down payment on a similar piece of property they want to buy. This amount can be a portion or all of the total purchase price.

What does comp mean in the reselling industry?

comp refers to the amount of money that a buyer offers a seller as a down payment on a new home or property. The remaining amount of the home’s purchase price is typically financed using the buyer’s financing. In a real estate transaction, the buyer’s down payment is commonly known as a cash-down payment.

What does comps mean in the real estate industry?

When a buyer looks at your listing, they will want to know how much you paid for a home. In the same way, they will want to know the seller’s original cost for the house. In the real estate world, the seller’s original cost is known as the “comps” or “comparable sales”. Comp analysis is a way for buyers to determine what the current market value of a house is. It also gives them insight into whether

What does the term comps mean in the jewelry industry?

When a customer purchases an item from a retailer using a credit card, the transaction is recorded as a credit card charge. Likewise, if a customer returns a piece of jewelry or other item, which they have purchased on a credit card, that transaction is recorded as a credit card return. These transactions are known as “comps”. The amount of money that the jewelry retailer receives for returned jewelry is often less than the cost of the product to the retailer. Thus, the retailer must deduct

What does the term comps mean in the real estate industry?

At its simplest level, the term comp refers to the amount of money you paid in order to lease or purchase a property. When a potential tenant or buyer visits your property, they will typically ask to see comps. A signed copy of the leased or purchased agreement will be handy, but if your tenant or buyer doesn’t want to bring a signed agreement, they could simply ask for a list of recent selling prices for similar properties.