Property Valuation
A competitive market analysis (CMA) differs from a formal appraisal in Nevada because a CMA:
AIs required for all residential transactions
BIs performed by a licensed real estate agent to estimate market value, not by a licensed appraiser✓ Correct
CCarries more legal weight than an appraisal
DIs required by Nevada law before listing a property
Explanation
A CMA is a market analysis prepared by a licensed real estate agent to help set a listing price or guide a buyer's offer. It is not a certified appraisal. For lending purposes, a licensed or certified appraisal is required.
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