Principles of Real EstateCâu 9 / 100
A physical feature of a property that reduces its value, such as an outdated floor plan, is an example of:
a.Functional obsolescence
b.Economic obsolescence
c.Physical accretion
d.Highest and best use
Giải thích
Functional obsolescence is a loss in value caused by outdated or poorly designed features within the property itself, like a bad floor plan. Economic (external) obsolescence comes from factors outside the property, such as a nearby nuisance. Both are forms of depreciation considered in the cost approach.
Luyện miễn phí toàn bộ 100 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- The process by which the state acquires property when an owner dies leaving no will and no heirs is called:
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- A metes and bounds legal description relies on:
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