Property Valuation (alternative)
In Maryland, a broker price opinion (BPO) or comparative market analysis (CMA):
AIs a certified appraisal under USPAP
BIs a real estate agent's estimate of market value for listing or marketing purposes✓ Correct
CMay be used by lenders as the sole basis for mortgage approval
DHas the same legal standing as a licensed appraisal
Explanation
A BPO or CMA is a marketing tool prepared by a real estate licensee to estimate value for listing or selling purposes. It is NOT a certified appraisal and may not be used by lenders for mortgage underwriting.
Related Maryland Property Valuation (alternative) Questions
- In Maryland, an appraiser's adjustment for location differences between properties recognizes that:
- In Maryland appraisal, 'market conditions' adjustment to comparable sales reflects:
- A Maryland neighborhood with predominantly aging, poorly maintained properties and declining values is said to be in a phase of the property cycle known as:
- A Maryland investor uses a 'discounted cash flow' (DCF) analysis for a commercial property. The DCF analysis:
- The direct capitalization method used by Maryland appraisers estimates value by:
- The 'price per square foot' metric in Maryland real estate analysis is a:
- In Maryland, an appraiser values a rental property's parking facility by analyzing comparable sales with and without parking. This is called:
- For a Maryland property near the Washington DC suburbs with high demand, a 'market rent' analysis would use:
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