What Is A CMA And Why Is It Important?

A CMA is a comparative marketing analysis. When you find the home you would like to submit an offer on, it is vital to have your agent perform a CMA on the neighborhood or neighborhoods nearby to make sure you are paying the right price for the home. CMA's can also help confirm the appraisal that is done on the home you choose is accurate or not too far off.

It is important that the homes used in comparison are very similar to the home you are choosing. Make sure the amount of bedrooms and bathrooms are considered as well as square footage, if it has a garage, pool, etc. You also want to make sure the homes chosen in the analysis have sold recently. Do not compare the home you like to the homes that sold a year ago keep it within a few days to several months.

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