Property Valuation
When a real estate agent prepares a comparative market analysis (CMA), the agent is providing:
AA formal appraisal meeting USPAP standards
BAn estimate of market value based on comparable sales✓ Correct
CA legally binding opinion of value for lending purposes
DA guarantee of the property's selling price
Explanation
A CMA is a market value estimate prepared by a real estate agent using recent comparable sales. It is not a certified appraisal and cannot be used for mortgage lending purposes.
Related New Hampshire Property Valuation Questions
- In NH's competitive post-2020 real estate market, rapidly rising prices meant appraisers had to:
- Which valuation approach is MOST appropriate for appraising a single-family owner-occupied home?
- A NH appraiser who identifies a comparable sale between family members at a non-market price should:
- A NH real estate professional conducting a broker price opinion (BPO) should understand that a BPO:
- Economic life in real estate appraisal refers to:
- An appraiser calculates the reproduction cost of improvements rather than replacement cost when:
- An appraiser reconciles the three approaches to value by:
- Which type of depreciation in an appraisal is considered incurable because the cost to cure exceeds the value added?
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