An Arm's Length Transaction is a transaction between unrelated parties who are each acting in his or her own best interest. Market value is based on the buyers and sellers being typically motivated, well-informed, and acting in their best interest. For this type of transaction, the property is exposed on the market for a reasonable length of time and payment is in cash or its equivalent, and the property sold is unaffected by the special or creative financing or sales concessions. 

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