Property Valuation
External (economic) obsolescence is different from functional obsolescence because it:
ACan usually be cured at a reasonable cost
BIs caused by factors outside the property and outside the owner's control✓ Correct
CRelates to the physical deterioration of the structure
DApplies only to commercial properties
Explanation
External obsolescence is caused by negative factors outside the property, such as proximity to a highway, flight paths, economic decline in the neighborhood, or adverse land use nearby. It is almost always incurable by the property owner.
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