( Sorry, just feeling like I should say something profound after reading your post!)

If it is possible to cancel the deal, are there any consequences like losing money paid during auction, impact to credit history etc ?

To determine what you can get a property to appraise for (when selling).While the square footage method (and adjusting the comps based on their differential square footage) might be reasonable for determining what a property will appraise for, the fact that there are a different number of bedrooms could have a much more significant impact on the resale price.To determine ARV for the purposes of estimating resale value, you really need to find a couple more houses that are similar in terms of number of bedrooms (and obviously make sure things like condition, style and age are still comparable).

You know, California has the most earth quakes and also has the highest unemployment...why can't we assume that the number of earth quakes impacts the unemployment level?

When that happens, I'm thrilled that there are good home inspectors out there who will call them on it and ensure that the buyers are protected and know what they're getting into.But, like others on this thread, I've had my share of inspectors who will find things that don't exist (I can think of a couple reasons why this might happen), who will make mistakes (everyone makes mistakes, but they can be expensive when an inspector does it), or who will go out of their way to try to justify their fee.I'm a big believer in just fixing everything that comes up on a home inspection (I want my buyers to feel comfortable that they're getting a great house and that I'm providing a great product), but when inspectors screw up -- accidentally or on purpose -- it can significantly impact my profits.All that said, there are some great inspectors out there who would never purposefully misrepresent a finding, and those are the ones who are probably good enough to find real issues, even in a house that has undergone a great rehab.

Specific activities that are similar to the listed activities in terms of their impact on an individual's functioning, as compared to the average person, also may be major life activities.

If so, I imagine the NET rent will impact your debt/income ratio (either positively if you are renting a place to live for less than you are renting your house or vice versa).

Even a six foot high concrete block fence is going to have minimal impact on the noise.

Some of the smallest changes often have the largest impact.

Also, make sure you know your financing terms and numbers as that will have a large impact on your actual ability to turn a profit.As for the contract details, I would suggest using a state sales contract, a reputable closing company (who can guide you through the process), and make sure you get owner's title insurance.