Property Valuation
In New York, the 'cost to cure' a functional obsolescence is considered 'curable' if:
AThe item can be physically repaired by a contractor
BThe cost to cure the obsolescence is equal to or less than the resulting increase in the property's market value✓ Correct
CThe cure takes fewer than 30 days to complete
DThe property owner's insurance covers the repair
Explanation
Functional obsolescence is 'curable' in New York appraisal when the cost to cure is equal to or less than the resulting increase in market value — i.e.
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