All of the following statements about a broker’s comparative market analysis are generally accurate EXCEPT:
Correct Answer
A) It is the same as a USPAP appraisal prepared for lending by a licensed appraiser
A CMA is not the same thing as a formal appraisal prepared under appraisal standards for a lending assignment. It is generally a broker’s market-based pricing opinion used to help with listing or offering decisions, so equating it with a USPAP appraisal is the exception.
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Previous Question
For a training exercise on broker pricing, Maya assigns weights of 50%, 30%, and 20% to three already adjusted comparable values of $420,000, $430,000, and $440,000. What weighted value indication does the exercise produce?
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All of the following are generally proper principles for selecting and analyzing comparable sales EXCEPT: