{"id":14885,"date":"2022-05-09T16:38:15","date_gmt":"2022-05-09T15:38:15","guid":{"rendered":"https:\/\/businessfinancenews.com\/?p=14885"},"modified":"2022-05-09T18:27:29","modified_gmt":"2022-05-09T17:27:29","slug":"cma-vs-appraisal","status":"publish","type":"post","link":"https:\/\/businessfinancenews.com\/home\/cma-vs-appraisal\/","title":{"rendered":"cma vs appraisal"},"content":{"rendered":"
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Real estate appraisals are intended to estimate the market value of a home. They\u2019re 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.<\/p>\n
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). <\/p>\n
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. <\/p>\n
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A CMA, or comparative market analysis, is an estimate of a home\u2019s value put together by a real estate agent. Listing agents put them together to come up with a listing price, while buyer\u2019s agents put them together to come up with an offer price. <\/p>\n
CMAs are put together using recent sales data and a real estate agent\u2019s 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. <\/p>\n
CMAs are completely free of charge. They\u2019re provided by a real estate agent as part of the agent\u2019s services. <\/p>\n
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