Functional Obsolescence
A loss of value and marketability due to adverse factors from inside the property lines, such as defects in the plan or design, which affect how well the property can be used, function, or perform.
Real Estate Glossary
Definitions of Common Real Estate Terms
A loss of value and marketability due to adverse factors from inside the property lines, such as defects in the plan or design, which affect how well the property can be used, function, or perform.