What is the outcome of a successful comparative analysis?

A successful comparative analysis primarily results in a determination of property value based on similar properties. This method involves evaluating properties that are comparable in size, location, condition, and other relevant characteristics to arrive at a fair market value for the property in question.

In the context of real estate appraisal, this analysis is essential because it provides insights into what buyers in the current market are willing to pay for properties similar to the one being appraised. By examining recent sales data of comparable properties (often referred to as "comps"), appraisers can assess how the subject property stacks up against these benchmarks. This process helps ensure that the valuation reflects real market conditions and is supported by tangible evidence from the local real estate marketplace.

Other options like predicting future prices, selecting properties for sale, or establishing legal title do not directly relate to the primary function of a comparative analysis, which is centered on determining current property value based on comparable sales data.