What must an extraordinary assumption used in an appraisal include?

An extraordinary assumption in an appraisal is a key concept that refers to an assumption made about a property or its condition that, if found to be false, could alter the appraisal's outcome. The inclusion of a statement that the use of this assumption may have affected the results is crucial. This transparency ensures that all parties involved understand that the conclusion drawn from the appraisal might be contingent upon the accuracy of that assumption. By acknowledging the potential impact of this assumption, appraisers foster integrity and accountability in their work, as it indicates to stakeholders that certain conditions or facts were presumed, rather than definitively established. This statement is essential for real estate professionals and clients to assess the reliability of the appraisal outcome.