Which scenario indicates the highest likelihood of a transaction reflecting market value?

A transaction conducted with independent parties is most likely to reflect market value because it implies that both buyer and seller are acting in their own best interests and are not influenced by any external pressures or special relationships. In such scenarios, the negotiation between parties is based on market conditions and fair market practices, leading to a price that accurately reflects the true value of the property.

Transactions between family members often involve emotions or special considerations that can skew the price away from market value. Similarly, transactions under duress can lead to prices that do not reflect the actual market conditions, as one party may feel compelled to sell at a lower price. Transactions that include contingent terms could also lead to pricing that does not align with the market value, as future conditions could affect the final price or agreement. Thus, independent negotiations tend to yield the most accurate representation of market value.