Property Valuation
What is an extraordinary assumption in appraisal?
AAn unusual estimate made by the appraiser
BAn assumption directly related to a specific assignment that, if false, could alter the appraiser's opinion of value✓ Correct
CAn assumption about future market conditions
DAn assumption about the property's highest and best use
Explanation
An extraordinary assumption is an assumption made in an appraisal assignment about specific facts that, if untrue, would change the value opinion. For example, assuming proposed improvements will be completed, or assuming no contamination based on no evidence.
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