Property Valuation
Functional obsolescence in a Vermont property is best described as:
APhysical wear and tear that reduces property value over time
BA loss in value due to a feature of the property that is inadequate or undesirable by current standards✓ Correct
CA decline in value caused by negative external factors like a new highway
DA temporary reduction in value due to a seasonal market
Explanation
Functional obsolescence is a loss in value due to a feature that is outmoded or inadequate, such as an outdated floor plan, too few bathrooms for the house size, or obsolete mechanical systems. It is an internal characteristic of the property.
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