Thanks.Hi MyraI'm actually more involved in helping people avoid being scammed in real estate related activities, and investing in real estate is a side business, but here's what I think will answer your question.E&O insurance aka Errors and Omissions insurance reduces the risk of potential lawsuits from sellers or buyers claiming the sales associates and the firms they work for had prior knowledge of any discrepancies or substandard work.  

When setting the criteria, is the accuracy trustworthy, or is there a discrepancy?

Nice article @Jerry Padilla, but there are some discrepancies from what I think is the norm...and what others (like me) have access to.1 - 80% ARV is rare.  

Yes at this point all I was thinking about was what would be how to give them the asking price they wanted on a loan as an exercise.Clearly that is just a waste of time as the numbers won't possibly work if the discrepancy in price is significant.

We ended up having to cancel this deal for the time being due to discrepancy between what the county would allow vs what the listing agent had supposedly confirmed they would allow.I certainly learned a bit in the process though, so I guess it wasn't for nothing.

These cause huge value discrepancies down in this market so pay close attention.

That seems to be a HUGE discrepancy - $200K vs. $600K. 

That seems to be a HUGE discrepancy - $200K vs. $600K.

I do not know if there any other discrepancies in the house unless we ask for the permits. 

If it's a 50K purchase price and there is a 25K discrepancy, then be weary.