Competency (AO-16)

Situations such as those listed below require specific research and competency to avoid the use of unsupported conclusions:

• the property is designed to suit the needs of a protected group;

• there is little or no transaction information available on similar properties;

• the property is in a market setting where similar properties have not previously existed;

• market conditions are not similar to the conditions prevailing during the time frame in which previous market transactions occurred; or

• there are financially subsidized rental or ownership programs.

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