Agency
A Mississippi seller's agent prepares a comparative market analysis (CMA) for the seller. The CMA is used primarily to:
AReplace a professional appraisal
BHelp the seller understand market value and establish an appropriate listing price based on comparable recent sales✓ Correct
CSatisfy mortgage underwriting requirements
DComply with MREC disclosure requirements
Explanation
A CMA is a tool used by real estate agents to help sellers understand current market conditions by analyzing recent sales, active listings, and expired listings of comparable properties. It helps establish a competitive listing price but is not a substitute for a licensed appraisal, which is required for mortgage purposes.
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