Property Valuation
What does the term 'extraordinary assumption' mean in a South Carolina USPAP-compliant appraisal?
AAn assumption that is obviously true
BAn uncertain assumption about a fact that if incorrect could alter the appraisal opinion✓ Correct
CAn assumption about the property's extraordinary features
DAn assumption required by the lender
Explanation
An extraordinary assumption is an assumption made about a presently uncertain condition that, if found to be false, could alter the appraiser's opinion. It must be disclosed and is made hypothetically for the purposes of the appraisal.
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