What is NOT a requirement for a transaction to be considered an Arm's Length, Bona Fide Sale?

A transaction is deemed an Arm's Length, Bona Fide Sale when both parties engage in the exchange under fair conditions, making informed and voluntary decisions without any coercion. The fact that both parties are represented by agents is not a strict requirement for a transaction to be categorized as such.

When assessing the nature of an Arm's Length transaction, the essential elements involve good faith between the parties, their lack of relationship (unrelated parties), and the absence of fraud or deceit. These components establish that the sale has occurred on fair terms, reflective of market conditions, ensuring that neither party takes advantage of the other. As a result, the representation by agents, while common in real estate transactions to provide professional guidance, is not a necessary requirement for the transaction to be considered genuinely arm's length. Hence, the presence or absence of agents does not impact the fundamental characteristics of a bona fide sale.