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'CMA' stands for Competitive Market Analysis. It is an estimate of what your house is expected to sell for. Most real estate agents offer them free of charge and they are a good way to inform decisions about selling your home. To prepare a CMA, the estate agent will need to have a good look around. As he or she walks around your home, he will be mentally checking off whether your home meets certain criteria - number of bedrooms, bathrooms, parking, garden, etc. A judgement is made based on your home and importantly, the price that property is currently selling for in your area.
Every CMA is unique. For instance, if there are many families vying for homes in your area, your extra bedrooms will put you in a strong position. If, in contrast, most buyers in your area are single professionals, an easy to care for flat may be quickly snatched up.
A CMA can be extremely helpful in deciding what renovations to make to your home. It gives you the chance to discuss what improvements would be worth making to increase value and profit. Remember, though, that a CMA is not the same as an appraisal. It is only advice which can help to guide you in valuing your home. For this reason, asking more than one estate agent for a CMA can be useful. Also, keep in mind that some agents may be tempted to overvalue your house in order to convince you to use their services. In addition to reqesting a CMA, educate yourself by conducting your own research on the internet about property values in your area.
Every CMA is unique. For instance, if there are many families vying for homes in your area, your extra bedrooms will put you in a strong position. If, in contrast, most buyers in your area are single professionals, an easy to care for flat may be quickly snatched up.
A CMA can be extremely helpful in deciding what renovations to make to your home. It gives you the chance to discuss what improvements would be worth making to increase value and profit. Remember, though, that a CMA is not the same as an appraisal. It is only advice which can help to guide you in valuing your home. For this reason, asking more than one estate agent for a CMA can be useful. Also, keep in mind that some agents may be tempted to overvalue your house in order to convince you to use their services. In addition to reqesting a CMA, educate yourself by conducting your own research on the internet about property values in your area.
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