Property Valuation
An arm's-length transaction for real estate valuation purposes is a sale:
AWhere both parties are represented by attorneys
BBetween unrelated, independent parties acting in their own best interests without compulsion✓ Correct
CThat closes within 30 days of contract
DBetween family members with a properly disclosed relationship
Explanation
An arm's-length transaction occurs between unrelated, independent parties, each acting in their own self-interest without undue pressure. Sales between family members or affiliated parties are generally not arm's-length and may not be reliable market comparables.
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