Property Valuation
External obsolescence in real estate appraisal is caused by:
AWorn-out plumbing in the building
BOutdated floor plan that buyers don't want
CFactors outside the property such as a nearby highway or declining neighborhood✓ Correct
DAge and physical wear of the structure
Explanation
External (economic) obsolescence is caused by factors outside the property's boundaries, such as proximity to a highway, nearby industrial uses, or neighborhood decline.
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