Property Valuation
Under Ohio appraisal practice, which of the following items is an 'extraordinary assumption'?
AAssuming comparable sales are arm's-length transactions
BAssuming a contaminated property has no environmental issues when no Phase I was conducted, affecting the value opinion✓ Correct
CAssuming the property's title is clear
DAssuming market conditions are stable
Explanation
An extraordinary assumption is an uncertain assumption that, if found to be false, would materially affect the value opinion. Appraising a contaminated site as if clean (without investigation) requires an extraordinary assumption with appropriate disclosure.
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