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What is the difference between an appraisal and a CMA?

An appraisal is performed by a certified appraiser who uses comparable homes in the area, condition of the property, etc. to determine an official value. An appraisal usually ranges in cost between $250 and $400. A Comparable Market Analysis (CMA) is usually done by a Real Estate Agent and uses many of the same factors (comparable properties, condition, etc.) to determine an estimated value. A CMA is almost always performed free of charge.

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