cma vs appraisal

Real Estate Appraisal Overview

Real estate appraisals are intended to estimate the market value of a home. They’re commissioned for a variety of reasons. Lenders use them to make decisions about mortgage or refinancing approvals. Sellers use them to predict a final sale price. Buyers use them to help come up with a fair offer.

Real estate appraisers are licensed, certified professionals. They are ethically bound to offer an unbiased opinion using strict industry guidelines and standards set by the Uniform Standards of Professional Appraisal Practices (USPAP).

How Much Does a Real Estate Appraisal Cost?

Hiring a real estate appraiser usually costs about $300 to $400, however prices vary from one region to another. Appraisals for Federal Housing Administration loans are more expensive – as much as $500 – because the loans have more stringent requirements.

Real Estate Appraisal Pros

  • Unbiased – When you hire an appraiser, you know you’re getting an independent, unbiased opinion.
  • Regulated – Appraisers have to follow strict standards set by USPAP. They rely exclusively on specific, verifiable data points.
Average Real Estate Appraisl Prices

Real Estate Appraisal Cons

  • May not benefit you – Appraisers will not adjust their results to get you the best desired outcome. In fact, they could lose their licenses for doing that. An appraiser’s report may or may not benefit you.
  • More expensive – Appraisals come at a cost, while CMAs are completely free.

CMA Overview

A CMA, or comparative market analysis, is an estimate of a home’s value put together by a real estate agent. Listing agents put them together to come up with a listing price, while buyer’s agents put them together to come up with an offer price.

CMAs are put together using recent sales data and a real estate agent’s personal knowledge of the local market. Real estate agents also put a lot of weight on comparable homes in your neighborhood and their sale prices.

How Much Does a CMA Cost?

CMAs are completely free of charge. They’re provided by a real estate agent as part of the agent’s services.

CMA Pros

  • Designed to benefit you – CMAs are intended to advocate on your behalf and get you the best deal possible. For example, your listing agent will come up with a CMA that supports a strong listing price. A buyer’s agent will come up with a CMA for the same house that suggests a much lower sale price.
  • Free – CMAs provide a lot of helpful data at no cost to you.

CMA Cons

  • Subjective – CMAs are heavily influenced by personal opinion. A CMA is a great reference to have, but you should also get an appraisal for a more unbiased opinion.
  • Unregulated – There are no strict regulations or universal procedures for putting together CMAs, which makes them less reliable than appraisals.

Author: Ashley Smith

Photo of author

Author S Krone

A lawyer never retires. So I would just say that I am not as active as I used to be. Now I simply dedicate myself to fishing, my hobby, and my grandchildren. For Business Finance News I write about legal aspects of mortgage policies, mostly regarding the rights of policyholders. I also have articles about personal injuries.

Thank you for visiting

Leave a Comment

Business Finance

About Us

Business Finance News is a brand oriented to business owners and dedicated to analyzing and comparing the cost and conditions of B2B procurement of goods and services through free quotes delivered by business partners.


Address 5050 Quorum Drive, (75254) Dallas TX

telephone 844-368-6072


A personal loan is a medium term loan with a fixed interest rate that is repaid in equal monthly payments and it's usually limited to 24 months. Loan offers and eligibility depend on your individual credit profile. Our lenders can help you obtain as much as $3,000 depending on the lender, your state and your financial situation.

The owner and operator of is not a lender and is not involved into making credit decisions associated with lending or making loan offers. Instead, the website is designed only for a matching service, which enables the users contact with the lenders and third parties. The website does not charge any fees for its service, nor does it oblige any user to initiate contact with any of the lenders or third parties or accept any loan product or service offered by the lenders. All the data concerning personal loan products and the industry is presented on the website for information purposes only. does not endorse any particular lender, nor does it represent or is responsible for the actions or inactions of the lenders. does not collect, store or has access to the information regarding the fees and charges associated with the contacting lenders and/or any loan products. Online personal loans are not available in all the states. Not all the lenders in the network can provide the loans up to $3,000. cannot guarantee that the user of the website will be approved by any lender or for any loan product, will be matched with a lender, or if matched, will receive a personal loan offer on the terms requested in the online form. The lenders may need to perform credit check via one or more credit bureaus, including but not limited to major credit bureaus in order to determine credit reliability and the scopes of credit products to offer. The lenders in the network may need to perform additional verifications, including but not limited to social security number, driver license number, national ID or other identification documents. The terms and scopes of loan products vary from lender to lender and can depend on numerous factors, including but not limited to the state of residence and credit standing of the applicant, as well as the terms determined by each lender individually. 


APR (Annual Percentage Rate) is the loan rate calculated for the annual term. Since is not a lender and has no information regarding the terms and other details of personal loan products offered by lenders individually, cannot provide the exact APR charged for any loan product offered by the lenders. The APRs greatly vary from lender to lender, state to state and depend on numerous factors, including but not limited to the credit standing of an applicant. Additional charges associated with the loan offer, including but not limited to origination fees, late payment, non-payment charges and penalties, as well as non-financial actions, such as late payment reporting and debt collection actions, may be applied by the lenders. These financial and non-financial actions have nothing to do with, and has no information regaining whatsoever actions may be taken by the lenders. All the financial and non-financial charges and actions are to be disclosed in any particular loan agreement in a clear and transparent manner. The APR is calculated as the annual charge and is not a financial charge for a personal loan product. 

Late Payment Implications

It is highly recommended to contact the lender if late payment is expected or considered possible. In this case, late payment fees and charges may be implied. Federal and state regulations are determined for the cases of late payment and may vary from case to case. All the details concerning the procedures and costs associated with late payment are disclosed in loan agreement and should be reviewed prior to signing any related document. 

Non-payment Implications

Financial and non-financial penalties may be implied in cases of non-payment or missed payment. Fees and other financial charges for late payment are to be disclosed in loan agreement. Additional actions related to non-payment, such as renewals, may be implied upon given consent. The terms of renewal are to be disclosed in each loan agreement individually. Additional charges and fees associated with renewal may be applied. 

Debt collection practices and other related procedures may be performed. All the actions related to these practices are adjusted to Fair Debt Collection Practices Act regulations and other applicable federal and state laws in order to protect consumers from unfair lending and negative borrowing experience. The majority of lenders do not refer to outside collection agencies and attempt to collect the debt via in-house means. 

Non-payment and late payment may have negative impact on the borrowers’ credit standing and downgrade their credit scores, as the lenders may report delinquency to credit bureaus, including but not limited to Equifax, Transunion, and Experian. In this case the results of non-payment and late payment may be recorded and remain in credit reports for the determined amount of time.