Valuation & AppraisalPregunta 98 de 120
A comparative market analysis (CMA) prepared by a licensee differs from a formal appraisal because it:
a.Is legally binding on the lender
b.Must be prepared only by a licensed appraiser
c.Establishes the assessed value for taxes
d.Is an estimate to help price a listing, not a certified appraisal
Explicación
A CMA is an informal analysis licensees prepare using comparable sales to help sellers price a home or buyers make offers. It is not a formal, certified appraisal and should not be represented as one. Lenders generally require a licensed appraiser's appraisal for financing.
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- An appraiser making adjustments in the sales comparison approach adjusts the:
- The principle of 'conformity' in appraisal suggests that a property's maximum value is generally realized when:
- Under the principle of regression, a high-value home located among lower-value homes will tend to:
- Accrued depreciation in the cost approach represents:
- Market value, as used in appraisal, generally assumes:
- Which of the following is a form of physical deterioration in an appraisal?
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