understanding the difference

At 36d5 Realty, we believe informed decisions start with clarity. Whether you're buying, selling, refinancing, or just curious about your property's value, it's important to understand the tools available. Here's a quick breakdown:

A CMA is typically prepared by a licensed real estate agent to help determine a competitive listing price. It compares your property to similar homes recently sold, currently listed, or expired in your area. CMAs are ideal for sellers and buyers looking for a market-based estimate—but they are not formal valuations.

A BPO is often requested by lenders or banks, especially in situations like foreclosures or short sales. It may include a drive-by or interior inspection and is performed by a real estate professional. While more detailed than a CMA, a BPO is still not a certified appraisal and may be limited in scope depending on the format used.

An appraisal is a formal, unbiased opinion of value conducted by a licensed or certified appraiser. It includes detailed analysis, adjustments for property features, and is required for most federally regulated lending transactions. Appraisals are the gold standard when accuracy and compliance matter most.