Property Valuation
External (economic) obsolescence in property valuation refers to:
AWear and tear on the physical structure
BOutdated design or floor plan
CLoss of value from factors outside the property✓ Correct
DDamage caused by deferred maintenance
Explanation
External (economic) obsolescence is a loss of value caused by factors outside the property's boundaries, such as a nearby highway, industrial plant, or neighborhood decline.
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