In contrast to a building or improvement's chronological age, the effective age considers the property's age based on wear and tear. For example, a poorly maintained building may only be 30 years, but the unchecked deterioration could give it an effective age of 60 years. This neglected building would thus physically resemble a maintained building twice its age. For more information, see the "Analyzing the Appraisal Report" article in the
"Loan Processing" section.
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