Legal Definitions - company-run dividend-reinvestment plan

A comparable, typically used in its plural form, refers to a specific piece of property that is used as a benchmark to determine the market value of another similar property. Appraisers, real estate agents, and other valuation professionals frequently rely on comparables to establish fair prices for buying, selling, or assessing properties by examining properties that share similar characteristics and have recently been involved in market transactions.

• Suppose a homeowner is refinancing their mortgage, and the bank requires an appraisal of their house. The appraiser will identify several homes in the same neighborhood that have recently sold, ideally within the last six months. These chosen homes will have similar features to the homeowner's property, such as the number of bedrooms and bathrooms, square footage, lot size, age, and overall condition. These recently sold properties are considered comparables because their sale prices provide a factual basis for estimating the current market value of the homeowner's property.

• Consider a developer planning to build a new apartment complex in a growing urban area. To assess the potential profitability and determine a fair price for the land, they would research recent sales of other undeveloped land parcels in the vicinity. They would look for plots with similar zoning, size, topography, and access to utilities. These previously sold land parcels serve as comparables, helping the developer understand the prevailing land values and project the financial viability of their proposed project.