Property Valuation
In Arizona, an 'arm's-length transaction' for appraisal purposes means:
AA sale between family members at a discounted price
BA sale in a foreclosure auction
CA transaction between unrelated, uncoerced parties each acting in their own best interest✓ Correct
DA sale where the broker represents both parties
Explanation
An arm's-length transaction involves unrelated parties, each acting independently in their own self-interest, with no undue pressure or special relationship that would distort the market price. It is the foundation of market value.
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