Property Valuation
Functional obsolescence in a property refers to:
ADeterioration due to deferred maintenance
BLoss in value from factors outside the property
CLoss in value from outdated design, layout, or features✓ Correct
DDepreciation caused by economic decline in the area
Explanation
Functional obsolescence is a loss in value due to outmoded or inadequate design, features, or layout (e.g., insufficient electrical service, outdated floor plans, or obsolete fixtures).
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