Comparable

Definition

A nearby property that supposedly proves your house is worth what someone says it is, despite having completely different everything. It's the real estate version of comparing apples to slightly different apples that sold six months ago.

Example Usage

"My appraiser used a comparable from three neighborhoods over that had a pool, a guest house, and a helipad. My place has a birdbath." - An underwhelmed seller

Related Terms

Advanced

fia

Full Interest Assumption—when a buyer takes over the seller's existing mortgage with full lender approval, including qualifying based on creditworthiness. The respectful way to inherit someone else's loan terms.

🏠 Real Estate

Beginner

rent roll

A spreadsheet listing all tenants in a rental property along with their lease terms, payment history, and unit details—basically the property's financial DNA. It's the first thing savvy investors scrutinize when evaluating a deal.

🏠 Real Estate

Beginner

open house warrior

Someone who attends multiple open houses with no intention of buying, just enjoying free snacks and architectural tourism. They're often retired, bored, or working for a competing agent on reconnaissance.

🏠 Real Estate

Advanced

assignment of contract

The legal sleight of hand where a buyer transfers their purchase contract to another buyer before closing, often used by wholesalers who never intended to own the property. It's contract flipping without the renovation show.

🏠 Real Estate

Intermediate

positive leverage

When borrowed money produces a higher return than the interest cost, making you look like a financial genius. It's the Holy Grail of real estate investing: using other people's money to make more money than you're paying them.

🏠 Real Estate

Advanced

phase 1 environmental

A preliminary environmental assessment investigating a property's potential contamination history through records review and site inspection, without actually testing soil or water. It's due diligence for avoiding EPA superfund surprises.

🏠 Real Estate

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