Functional Obsolescence
Definition of "Functional obsolescence"
Also called functional depreciation. Loss of value that results from improvements that are inadequate, outdated, overly adequate, or improperly designed for today's needs. May be curable or incurable.
Popular Real Estate Terms
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An equity-to-value ratio is an excellent tool for those homebuyers that want to understand how profitable an investment is based on the amount of money invested and the actual value of the ...
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transfer of real property by legal means such as through inheritance. ...
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