Property Valuation
An appraisal is different from a CMA (Comparative Market Analysis) because:
AAn appraisal is performed by a real estate agent
BAn appraisal is a formal, certified opinion of value by a licensed appraiser meeting USPAP standards✓ Correct
CA CMA is more accurate than an appraisal
DAn appraisal is required only for commercial properties
Explanation
An appraisal is a formal, certified opinion of value performed by a licensed or certified appraiser following USPAP (Uniform Standards of Professional Appraisal Practice). A CMA is performed by a real estate agent as a market analysis tool.
Related North Dakota Property Valuation Questions
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