Property Valuation
In Virginia, the phrase 'arm's length transaction' in real estate means:
ABoth parties must be physically present at closing
BA transaction between unrelated, independent parties each acting in their own self-interest✓ Correct
CA sale where the seller carries the financing
DA transaction where the agent represents both parties
Explanation
An arm's-length transaction involves unrelated buyers and sellers, each acting in their own interest with adequate knowledge, and no unusual motivations. Market value requires arm's-length conditions.
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