{"id":12226,"date":"2014-06-25T18:06:41","date_gmt":"2014-06-25T22:06:41","guid":{"rendered":"https:\/\/www.certitrek.com\/nebb\/hypothetical-and-extraordinary-assumptions-in-uspap\/"},"modified":"2022-11-29T10:08:35","modified_gmt":"2022-11-29T15:08:35","slug":"hypothetical-and-extraordinary-assumptions-in-uspap","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/hypothetical-and-extraordinary-assumptions-in-uspap\/","title":{"rendered":"Hypothetical and Extraordinary Assumptions in USPAP"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1144px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-1\"><p>The <a href=\"https:\/\/nebbinstitute.wordpress.com\/2011\/06\/23\/2010\/05\/20\/what-is-uspap\/\">Uniform Standards of Professional Appraisal Practice<\/a> (USPAP), to which every CMEA adheres, discusses two types of assumptions professionals make when performing appraisals. These are extraordinary and hypothetical assumptions.<\/p>\n<p>Extraordinary assumptions are directly related to an appraiser\u2019s specific assignment. If these assumptions are discovered to be false, the appraiser would be forced to change his opinion or conclusion. Extraordinary assumptions take uncertain information, such as physical, legal, or economic characteristics of equipment, and presume that information to be fact. Market conditions and trends also fall under extraordinary assumptions.<\/p>\n<p>Hypothetical assumptions are contrary to fact, but are still entertained for an analysis. They take facts about physical, legal, and economic conditions, and assume the contract. Hypothetical assumptions about market conditions or trends can also be taken.<\/p>\n<p>These distinctions are important ones, so make sure if you need an appraisal you work with an experienced and well-trained CMEA.<\/p>\n<p><i>The<\/i><a href=\"https:\/\/www.certitrek.com\/nebb\/\"><i>NEBB Institute<\/i><\/a><i> endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery\/equipment appraisal and brokerage.<\/i><\/p>\n<p>By:<a href=\"https:\/\/www.certitrek.com\/nebb\/\">NEBB Institute<\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Uniform Standards of Professional Appraisal Practice (USPAP), to which every CMEA adheres, discusses two types of assumptions professionals make when performing appraisals. These are extraordinary and hypothetical assumptions. Extraordinary assumptions are directly related to an appraiser\u2019s specific assignment. If these assumptions are discovered to be false, the appraiser would be forced to change his [&#8230;]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-12226","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.4 (Yoast SEO v19.13) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hypothetical and Extraordinary Assumptions in USPAP - NEBB<\/title>\n<meta name=\"description\" content=\"The (USPAP), to which every CMEA adheres, discusses two types of assumptions professionals make when performing appraisals.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/hypothetical-and-extraordinary-assumptions-in-uspap\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hypothetical and Extraordinary Assumptions in USPAP\" \/>\n<meta property=\"og:description\" content=\"The (USPAP), to which every CMEA adheres, discusses two types of assumptions professionals make when performing appraisals.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/hypothetical-and-extraordinary-assumptions-in-uspap\/\" \/>\n<meta property=\"og:site_name\" content=\"NEBB\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/NextLevelPurchasing\/\" \/>\n<meta property=\"article:published_time\" content=\"2014-06-25T22:06:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-29T15:08:35+00:00\" \/>\n<meta name=\"author\" content=\"Galo Matagay\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:site\" content=\"@nextlevelpurch\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Galo Matagay\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/hypothetical-and-extraordinary-assumptions-in-uspap\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/hypothetical-and-extraordinary-assumptions-in-uspap\/\"},\"author\":{\"name\":\"Galo Matagay\",\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/#\/schema\/person\/72d094fab77892483dfa6e061cb27eaa\"},\"headline\":\"Hypothetical and Extraordinary Assumptions in USPAP\",\"datePublished\":\"2014-06-25T22:06:41+00:00\",\"dateModified\":\"2022-11-29T15:08:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/hypothetical-and-extraordinary-assumptions-in-uspap\/\"},\"wordCount\":452,\"publisher\":{\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/#organization\"},\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/hypothetical-and-extraordinary-assumptions-in-uspap\/\",\"url\":\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/hypothetical-and-extraordinary-assumptions-in-uspap\/\",\"name\":\"Hypothetical and Extraordinary Assumptions in USPAP - 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