Property Valuation
In South Carolina, which of the following is an example of 'external obsolescence'?
AA cracked foundation
BAn outdated floor plan
CA new highway built adjacent to a residential neighborhood causing noise and traffic✓ Correct
DA leaking roof
Explanation
External obsolescence (also called economic or locational obsolescence) is a loss in value caused by factors outside the property, such as nearby industrial development, highway construction, or economic decline in the neighborhood.
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