ValuationValuation_appraisalEASY
In Texas, functional obsolescence includes:
Correct Answer
B) Outdated floor plan or features
Functional obsolescence is loss in value due to outdated design or features within the property.
Answer Options
A
Nearby highway noiseB
Outdated floor plan or featuresC
Deferred maintenanceD
Economic decline of the areaVideo Explanation3 min
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Related Topics & Key Terms
Related Topics:
property-depreciation-typescost-approach-valuationproperty-appraisal-methods
Key Terms:
functional obsolescenceappraisal depreciationCost Approachoutdated floor plantypes of obsolescence
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