What is the difference between a comparative market analysis (CMA) and an appraisal? | Real Estate Appraisers

What is the difference between a comparative market analysis (CMA) and an appraisal?: Real estate agents prepare a comparative market analysis (CMA) before putting a property on the market. The analysis helps determine the list price by comparing the sales of similar properties.; A full appraisal is a detailed report that describes a property’s condition and location as well as its appraised value. The appraised value is not only determined by comparing sales of similar properties, but by considering other, complex data about the property.; While CMA’s determine a property’s list price, appraisals are sought for a variety of reasons including estate planning, refinancing, determining home insurance amounts, litigation, wealth management and of course, buying and selling property.; [Back]