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Save yourself some time and Order a Limited Appraisal for just $59.95. Click here for Details.
What is a Comp Check? Wikipedia's Full Definition, is edited as follows: 
"A term used by mortgage professionals to request a real estate appraiser to run comparable sales in order to determine the value of a property before the appraiser is actually hired to complete the assignment.
The purpose of a comp check is to get an appraiser to estimate a value before being hired/paid for the assignment; thus, if hired, the appraiser is on the hook for the value they already reported.
The practice can be highly detrimental to the appraisal profession as it is illegal (see below). Moreover, it can cause harm to buyers and sellers of real estate alike as evidenced by the following article. [2]
Licensed real estate appraisers are bound by a set of laws called the Uniform Standards of Professional Appraisal Practice USPAP, written by the Appraisal Foundation [3]. In the Appraisal Foundation's ADVISORY OPINION 19 (AO-19) [4] the Appraisal Foundation makes clear the following:
An appraiser must perform assignments ethically and competently, in accordance with USPAP and any supplemental standards applicable to the assignment. An appraiser must not engage in criminal conduct. An appraiser must perform assignments with impartiality, objectivity, and independence, and without accommodation of personal interests.
An appraiser must not accept an assignment that includes the reporting of predetermined opinions and conclusions, and
Further, the MANAGEMENT section of the ETHICS RULE in USPAP states:
It is unethical for an appraiser to accept an assignment, or to have a compensation arrangement for an assignment, that is contingent on any of the following:
the reporting of a predetermined result (e.g., opinion of value);
a direction in assignment results that favors the cause of the client;
the amount of a value opinion;
the attainment of a stipulated result; or
the occurrence of a subsequent event directly related to the appraiser’s opinions and specific to the assignment’s purpose (bold added for emphasis).
Here is how you can get a free comp check. See the following list of several internet services that (in some way or another) provide a rough idea or a free comp check of a property's value in Las Vegas, Clark County, Nevada and nationally. Buyer Beware!
Las Vegas value ranges can be provided in an appraisal; however, we usually conclude a point value estimate.
Appraisers of Las Vegas.com conducted a study of a particular house (100 Celia Place, Las Vegas, NV 89145) as of August 3, 2007. We completed a Limited Appraisal of this property and opined $250,000. We also surveyed all of the following sites as of this date. The following lists shows the result of our most recent study:
- RealEstateABC - $321,000 (Free)
So, get it from amn appraiser who knows or get it free on-line. You get what you pay for. This range of values ($260,00+, $279,014+, $321,000-, $321,000 and $335,689-) is confusing. It can not help anyone.
http://appraisalnewsonline.typepad.com/appraisal_news_for_real_e/2006/08/illinois_comp_c.html
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