Property Valuation
What does 'arm's-length transaction' mean in the context of Ohio comparable sales?
AA sale in which both parties are physically present
BA sale between unrelated parties, each acting in their own best interest, with no undue pressure✓ Correct
CA sale within one mile of the subject property
DA sale that closed within the past six months
Explanation
An arm's-length transaction is one in which both buyer and seller are independent, knowledgeable, and acting in their own self-interest without pressure — the basis for determining market value.
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