Millennium Trust Company ALT-013 2016-2025 free printable template
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How to fill out comparative market analysis
How to fill out comparative market analysis
01
Step 1: Collect data on recently sold properties in the same area as the subject property.
02
Step 2: Analyze the data and select comparable properties that are similar to the subject property in terms of size, location, condition, and amenities.
03
Step 3: Calculate the average sale price of the comparable properties.
04
Step 4: Adjust the sale prices of the comparable properties based on any differences in features or condition compared to the subject property.
05
Step 5: Calculate the average adjusted sale price of the comparable properties.
06
Step 6: Use this average adjusted sale price as an estimate of the market value for the subject property.
Who needs comparative market analysis?
01
Real estate agents and brokers
02
Homeowners looking to sell their property
03
Buyers looking to make informed purchase decisions
04
Appraisers and property valuation professionals
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What is comparative market analysis?
Comparative market analysis is the examination of the prices at which similar properties in the same area recently sold.
Who is required to file comparative market analysis?
Real estate agents and appraisers are usually required to file comparative market analysis.
How to fill out comparative market analysis?
To fill out a comparative market analysis, gather recent sales data of comparable properties in the area and analyze their prices.
What is the purpose of comparative market analysis?
The purpose of comparative market analysis is to determine the fair market value of a property based on recent sales of similar properties.
What information must be reported on comparative market analysis?
Information such as property details, sales prices of comparable properties, and adjustments made for differences must be reported on a comparative market analysis.
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