Which of the following is NOT included in the final CMA given to the seller?

The final Comparative Market Analysis (CMA) provided to the seller typically includes essential elements that help them understand the market value of their property. The correct answer relates to the highest and best use evaluation, which is a separate analysis often conducted during the appraisal process but not always included in a CMA.

The CMA generally focuses on comparable sales analysis, which evaluates similar properties that have sold recently to determine a realistic price for the seller’s property. This analysis relies on data regarding actual sales, thus helping establish a market-driven price.

Additionally, adjustments to past sales are included in the CMA as they account for differences among the properties, allowing for a more accurate comparison. This can entail modifying prices based on features, location, or market conditions to ensure a fair evaluation.

Pictures of comparables are also commonly part of the CMA. Visual representations help sellers see the condition and appeal of properties similar to theirs, providing a context for the market analysis.

In summary, while a highest and best use evaluation is important for understanding the full potential of a property, it is not a standard component of the final CMA presented to the seller, making this the correct response to the question.