Property Valuation
A Minnesota property with significant deferred maintenance (unmaintained exterior, outdated systems, visible wear) would be described in an appraisal as having what condition rating?
AC1 (new construction)
BC3 (adequate condition, normal wear)
CC5 (poor condition, deferred maintenance)✓ Correct
DC2 (minor repairs needed)
Explanation
Fannie Mae's property condition ratings range from C1 (new) to C6 (uninhabitable). A property with significant deferred maintenance that affects livability would typically be rated C5 (poor overall condition, obvious deferred maintenance) or potentially C6 if uninhabitable. Minnesota appraisers use these standardized ratings in residential appraisals for conventional mortgage lending.
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