The problem is that in most cases comps could be interpreted both ways, supporting the price and invalidating the price.Comparable sales are always the most accurate way of determining fair market value, but when you are picking two or three out of a hundred to compare the subject property to, discretion comes into play, and with it human error.

As far as what "is the LAW," different people may interpret it differently, which is something that keeps the courts quite busy.

I'd try to focus your question some as it's very broad and will no doubt be subject to interpretation.

Just pulling a comp within even a half mile radius would not give you an accurate price unless it was in this particular part of the area.Point being, I would recommend networking with a realtor to be able to access this data, but I would recommend that you educate yourself on interpreting it and not necessarily taking a realtor's word for it.

Now I am not sure if this is valid in all 50 states, but it has been interpreted by courts, at least I know for Texas, that consideration can be a promise.

To expand, new restrictive rules and penalties are coming from the Dodd -Frank Act, the SAFE act and are being interpreted and enforced by the Consumer Finance Protection Bureau.

For the sound booster to work, it must be plug into a wall outlet as well as a phone jack, which according to strict interpretation of the code sections is illegal but recommended by the State (I am severely hard of hearing).

That is considered a contract issue, when you truly have a mortgage and try to dress it up in contract law it usually ends up being interpreted under real estate law.

The law is written giving a very broad interpretation, saying any method or system, to be used to facilitate any sale.

I just don't try things that could be interpreted as bank fraud under any circumstances.In open competition on the market where other investors have a shot at it, this type of property would get bid up (and away from me) in my market.