A Comparative Market Analysis (CMA) is best described as which of the following?
Correct Answer
B) An estimate of market value prepared by a real estate licensee to help price a property for sale or purchase
A CMA is a market analysis prepared by a real estate licensee (not a licensed appraiser) using recent sales of comparable properties to help sellers price their property competitively or help buyers make informed offers. A CMA is not a formal appraisal, is not performed by a licensed appraiser, and cannot be used by lenders to qualify a borrower for a mortgage loan.
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