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SUMMARY OF SCOPE OF WORK(Continued) <br /> After arriving at the value estimates and establishing a range of value (by more than one approach), <br /> the appraiser must correlate these estimates into a single conclusion of value. In formulating this <br /> conclusion,the appraiser must determine which approach is best supported and conforms realistically <br /> with the multitude of factors relating to the subject property. This appraisal will only include the <br /> Sales Comparison Approach. <br /> Hypothetical Condition <br /> A hypothetical condition is defined as that which is contrary to what exists, but is supposed for the <br /> purpose of analysis. <br /> Hypothetical conditions assume conditions contrary to known facts about physical,legal,or economic <br /> characteristics of the subject property; or about conditions external to the property, such as market <br /> conditions or trends; or about the integrity of data used in an analysis. <br /> Source: USPAP 2014-2015 Edition. <br /> This report includes no hypothetical conditions. <br /> Extraordinary Assumption <br /> An extraordinary assumption is an assumption, directly related to a specific assignment, which, if <br /> found to be false, could alter the appraiser's opinions or conclusions. <br /> Extraordinary assumptions presume as fact otherwise uncertain information about physical,legal, or <br /> economic characteristics of the subject property; or about conditions external to the property, such <br /> as market conditions or trends; or about the integrity of data used in an analysis. <br /> Source: USPAP 2014-2015 Edition. <br /> The client has requested the subject property be appraised free and clear of all encumbrances as if <br /> under a typical fee simple estate. It is important to note that any potential leases encumbering the <br /> subject property may have an impact on market value. <br /> 6 <br />