What is comp check meaning?

Comp check is a term used in the real estate industry to refer to a comparative market analysis (CMA) that is conducted to determine the value of a property. It involves analyzing recent sales of similar properties in the same locality to determine the current market value of a property. A comp check is usually conducted by a real estate agent or appraiser to provide an estimate of the property's value for a potential seller or buyer. The analysis includes a comparison of the property's features, location, size, and condition with similar properties that have been sold recently. A comp check is an important tool to help sellers set a realistic asking price and for buyers to make informed decisions on whether to make an offer on a property.