This property can only be placed on a ranged weapon. A precise weapon can be shot or thrown at an opponent engaged in melee without suffering the standard -4 penalty (as the Precise Shot feat). This doesn't grant any special power to those who already have the Precise Shot feat.
Caster Level: 11th
Requirements: Craft Magic Arms and Armor, Precise Shot Price: +1 bonus
Magic of Faerûn Arms and Equipment Guide