Property Valuation
A competitive market analysis (CMA) is prepared by a broker and is used primarily to:
AReplace a certified appraisal for mortgage lending
BHelp determine an appropriate listing price or offer price✓ Correct
CCalculate the assessed value for tax purposes
DEstablish legal title to the property
Explanation
A CMA is a broker's tool to analyze comparable sales and help clients understand market value for pricing decisions; it is not a substitute for a certified appraisal.
Related Indiana Property Valuation Questions
- An Indianapolis apartment building generates a NOI of $72,000 per year. If comparable properties have a cap rate of 7.5%, what is the estimated value?
- In Indiana, a 'before and after' analysis is most commonly used in:
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