Property Valuation
Functional obsolescence in Vermont real estate refers to:
APhysical deterioration from weather and normal use
BA loss in value due to outmoded or inadequate features within the property itself✓ Correct
CDeclining values caused by external neighborhood factors
DDamage from flooding or natural disasters
Explanation
Functional obsolescence is a loss in value caused by outdated or inadequate features within the property, such as an old-fashioned floor plan, outdated heating system, or insufficient bathrooms. It differs from physical deterioration (wear and tear) and external obsolescence (neighborhood factors).
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