Property Valuation
A South Carolina appraiser's 'hypothetical condition' differs from an 'extraordinary assumption' in that:
AThey are legally the same
BA hypothetical condition is contrary to known fact; an extraordinary assumption is about an uncertain but potentially true condition✓ Correct
CExtraordinary assumptions are always about future events; hypotheticals are about past events
DOnly certified appraisers may use hypothetical conditions
Explanation
A hypothetical condition is contrary to known fact (e.g., 'as if the property were not contaminated'). An extraordinary assumption is made about a presently uncertain condition that may or may not be true.
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