Property Valuation
A 'comparative market analysis' (CMA) differs from an appraisal in that a CMA:
AIs more legally binding than an appraisal
BIs prepared by a real estate agent to estimate market value, not a licensed appraiser✓ Correct
CMust follow USPAP standards
DIs required for all federally related transactions
Explanation
A CMA is prepared by a real estate agent to help a seller price their property or a buyer evaluate an offer. It is not an official appraisal, does not need to follow USPAP, and cannot be used for federally related transactions.
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