Property Valuation
In Maine, a property with a deferred maintenance issue such as a worn roof is experiencing:
AFunctional obsolescence
BEconomic obsolescence
CCurable physical deterioration✓ Correct
DIncurable physical deterioration
Explanation
Deferred maintenance (like a worn roof that can be replaced) is curable physical deterioration. It can be corrected at a cost that is economically justified by the resulting increase in value.
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