Property Valuation
A competitive market analysis (CMA) is typically prepared by a:
ALicensed appraiser
BReal estate agent✓ Correct
CMortgage lender
DTitle company
Explanation
A Competitive Market Analysis (CMA) is typically prepared by a real estate agent to help clients price a property for listing or make an offer. It is not a formal appraisal and is based on comparable sales data from the MLS.
Related Illinois Property Valuation Questions
- What is 'external obsolescence' in property valuation?
- Which appraisal approach is most commonly used for special-purpose properties such as churches and schools?
- A capitalization rate of 5% versus 10% on similar properties would indicate that the property with a 5% cap rate:
- Functional obsolescence differs from physical deterioration in that functional obsolescence is caused by:
- When appraising a condominium unit, the appraiser must consider the:
- The income capitalization approach to value is most commonly used for:
- Functional obsolescence in a property refers to:
- When appraising a newly constructed building with no prior sales history, the appraiser would most heavily rely on the:
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