Property Valuation
A real estate professional preparing a Comparative Market Analysis (CMA) must disclose that a CMA is:
AA certified appraisal prepared under USPAP standards
BAn estimate of value for marketing purposes, not a certified appraisal✓ Correct
CEquivalent to a professional appraisal for loan purposes
DA government-required document for all listings
Explanation
A CMA is a broker/agent's estimate of a property's market value for pricing purposes. It is not a certified appraisal and cannot be used for loan purposes. Agents must not misrepresent a CMA as an appraisal.
Related Georgia Property Valuation Questions
- A broker's price opinion (BPO) is most commonly used by:
- In a 'seller's market,' home values tend to:
- When performing a comparable market analysis (CMA), a Georgia agent should select comparables that:
- When appraising a property, which approach to value considers the land value separately from the improvements?
- Assemblage in real estate refers to the process of:
- A 'market value' definition in a appraisal context assumes:
- The 'gross income multiplier' (GIM) is typically used for:
- The 'gross rent multiplier' (GRM) is calculated as:
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