Definition of a "Comp Check"- A comp check ordered as a service from Appraisal
Resource is
"a list of sales in the project or neighborhood, with a brief description,
and the range of sale prices in the project or neighborhood,
without comparison and without discussion of a specific value".
Comp Check Disclosure
No Appraiser can report a predetermined value of a property.
To do so would be in violation of the Management section
of the Ethics Rule of USPAP. Comp checks are performed to
inform clients of the general sales activity that has transpired in
the immediate area around the subject property. Sales data does
not determine a value estimate of the subject property, and the
appraiser additionally cannot determine if those sales are truly
comparable without conducting a field inspection of the
subject and researching the sales data.