Property Valuation
Functional obsolescence in an appraisal refers to:
APhysical wear and deterioration of a structure
BLoss in value due to outmoded or inadequate features within the property✓ Correct
CLoss in value due to negative influences outside the property
DDepreciation caused by market oversupply
Explanation
Functional obsolescence is a loss in value caused by deficiencies or superadequacies within the property itself, such as outdated floor plans, inadequate electrical systems, or too many bedrooms for the area.
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