Property Valuation
Comparative Market Analysis (CMA) is typically prepared by a:
ACertified appraiser for bank lending
BReal estate licensee to help price a listing or assist a buyer✓ Correct
CGovernment assessor for tax purposes
DBuilding inspector for permit approval
Explanation
A CMA is prepared by a real estate licensee (not a licensed appraiser) to help clients understand the market value of a property. It uses recent comparable sales to estimate a likely selling price but is not an appraisal.
Related Tennessee Property Valuation Questions
- Functional obsolescence in a property refers to:
- In Tennessee, when an appraiser states a property's value 'as of' a specific date, this is called the:
- When appraising new construction, the cost approach is often most appropriate because:
- In the sales comparison approach, an appraiser makes a negative adjustment to a comparable sale when:
- The principle of conformity states that value is maximized when:
- When the Nashville real estate market has a 2-month supply of homes, this indicates a:
- A 'drive-by' or 'exterior inspection' appraisal (Form 2055) in Tennessee is typically used for:
- The highest and best use of a property is defined as the use that is:
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