15. You have just been assigned to complete the appraisal of an old, one-storey house in Coquitlamand are conducting an analysis of comparable sales. You have found a comparable property that issimilar in all respects except that when sold, the seller arranged a buydown, offering the buyer aninterest rate of 1.5% below the market rate. Which of the following statements is FALSE?

(1) You must consider the fact that the buyer may have paid more than the market value of theproperty because of the below-market financing.

(2) Non-market financing arrangements only warrant adjustments to the sale price of comparableproperties if market data suggests that they affect value.

(3) Sales with non-market financing are compared to sales transacted with market financing todetermine whether an adjustment for cash equivalency can be made.

(4) You must consider the fact that the buyer may have paid less than the market value of theproperty because of the below-marketing financing.