Property Valuation
In South Carolina, 'functional obsolescence' in appraisal refers to:
APhysical deterioration of building components
BLoss in value due to outdated design, poor floor plan, or inadequate features✓ Correct
CEnvironmental contamination affecting value
DEconomic decline in the surrounding neighborhood
Explanation
Functional obsolescence is a loss in value caused by design deficiencies or outdated features (e.g., only one bathroom in a 4-bedroom home, low ceilings, obsolete electrical systems). It may be curable or incurable.
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