The sellers of real estate seem to be fixed on their net as a finial decision. In todays market it is important to do the initial sellers net sheet and follow up. Even though the listing agreement may address keeping up the mortgage they may not be willing to share this information. Real estate loans are in record default and loan companies are not making it easy and many cases difficult to resolve issues. As ARM's kick and home owners are facing ever increasing problems in making their mortgages there will be the desperate attempts to believe there is a magic bullet with Realtors. Having additional paper may not help as the clients seem to bury their head in the sand. We should keep our heads up and be aware of signs before there is a problem. Even going to shorter listing times may be a solution. Getting the payoff from the lender is a good first step.
Remember www.RealEstateWorkHorse.com/ for advise on credit and morgage issues.