Posted by JohnBoy on January 11, 2001 at 19:30:17:
That is when you are given something. Usually more common in places like Vegas. You gamble away a lot of money or you win a lot of money and the casino will “comp” you a room and/or dinner or tickets to one of their shows. They want you to stay in their casino to keep losing your money or they want a chance to get back the money you may have won. So they “comp” you things to get you to stay there! LOL
Actually, a comp pertaining to real estate is comparable home sales in the area. You want to check and see what other homes like the one you’re interested in has sold for in the last six months to get an accurate comparison market value. Hence, check the “comps”.