Blog Category: functional obsolescence

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Functional Obsolescence

What is functional obsolescence? This post will be interesting to people buying a home, Realtors, appraisers, and most anyone involved in the real estate process.

I recently had a loan get rejected, which I am currently working to get approved. The loan was rejected due to “an unacceptable property”. Upon further questioning, the bank told me this was due to “functional obsolescence”.

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