The loss in value
that a structure incurs as a result of
negative environmental forces beyond the
boundaries of the property. Locational
obsolescence is one of two sub-categories
under the broader category of external
obsolescence, the other being economic
obsolescence.
It is for the reasons
of locational obsolescence buyers are
strongly encouraged to purchase real estate
in desirable locations which could be
quickly resold should there be a need to do
so.
Before making an
investment into a property, being a
residential or a commercial structure,
please consider the resale value of that
unit.
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