UnderThe Pennsylvania Real Estate Appraisers Certification Act (63 P.S. § 457.1-457.19),only a state-certified or licensed appraiser can perform real estate appraisals for loan purposes.
Real estate brokers and salespersons can perform Comparative Market Analyses (CMAs) but cannot legally perform an appraisal for a lender.
This restriction ensures that appraisals used for lending purposes meet state and federal standards.
Why the other answers are incorrect:
Option A (CMAs as Appraisals):CMAs arenotappraisals.
Option B (Before Offer Accepted):Thetiming of the appraisal does not change licensing requirements.
Option C (Disclosure to Lender):Even with disclosure,brokers are not permitted to conduct appraisals for loans.
Chosen Answer:
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