what does purchase/resale arm's length residential transaction mean?

Asked by anybodythere08, Saugerties, NY Tue Jun 25, 2013

This question was asked from this property: http://www.trulia.com/property/1071724450-17-Laurel-Ln-West-…

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Gail Gladsto…, Agent, 11743, NY
Tue Jun 25, 2013
An arm's length transaction means that the buyer and seller can not be related in any way...no sisters, brothers, cousins, aunts, uncles, parents, grandparents, children...nothing.
0 votes
ok thank you
Flag Tue Jun 25, 2013
Christopher…, Agent, Tarrytown, NY
Tue Jun 25, 2013
It's basically a transaction where the buyer and seller have no relation to each other.

0 votes
thanks for the answer, but when pulled up records on the history it shows reo/resale then armslength resale, that's where I am getting confused if it is a bank owed/repo/ or does a person own this home.
Flag Tue Jun 25, 2013
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