Fixture is anything that is glued, screwed or permanently placed in a home making it an integral part of that home. Like bookcases for example. Sellers who before or during the boom era thought they were shrewed to refinance, pull out equity established in a market on the rise, and use that money for other purposes. Some for recreation, some invested in second properties, travel, new cars, or a gambit of other non essential expenditures. Some just plain blew it. The not so funny thing about life is it can change at any time. Through any series of events culminating into a total eclipse of financial security. A health problem could arise suddenly, a serious traffic accident, a business gone sour, or just plain bad judgements. Once you fall behind you have only a limited time in which to make up the short fall before it has a cataclysmic effect.
Interest rates can jump to well over 18% on a fixed rate mortgage...other fees and penalties may apply. Some lenders are more cooperative than others. The larger the company, generally the less unyielding they will be. Who really feels the brunt of it? The homeowners often feel the institution (bank) will take the hit and move on. The lawyers certainly are not going to waive their fees, the buyer if there is one is not going to cover the shortage, and certainly the title company isn't going to say "Hey it's free", the Realtor you hired to sell it before it went into foreclosure could however get the most seriously burned in an eleventh hour attempt to save your credit rating from a looming foreclosure. In Osceola County for example 1/274 homes is in some form of Foreclosure.
If a creditable Realtortakes the house as a listing, it is not unreasonable given the high rate of Lis Pendens, a pending lawsuit. With a record number of actions being filed Nationwide,to do a basic title search. It is a sound investment of limited liability, should the property prove to be so weighted down by debt that there will not be sufficient funds to pay a Realty commission.
Investing in a basic Title search could cost under a $100 for piece of mind. Less than most virtual tours cost to produce in the end, it could be the best investment for the future health of the transaction and your business.
Brad Alley,a Real Estate lawyer in Winter Park Florida offered the following advise. He said "It is the best investment a Realtor can make to insure he will get paid for the work involved in procuring a sale of a property that may seem questionable." Good advise.
Since a Realtor is a "fixture" (Integral part) in the transaction process, either in representing the seller or the buyer, the fee, is part of the agreement, a consideration for time effort and energy in Procuring a Sale.
But what if... the contract in the end after discovery has revealed that while not a short sale at the time the offer was made and accepted, signed and compensated, it became a short sale once the banks added onto the loan payoff amount, additional interest, legal fees, late fees surcharges and assorted other fat? They are unwilling to work the short sale they have just created with the addition of $30,000-40,000 in junk fees. Loss Mitigation Experts, have said If we were to foreclose-we are in first position not our problem" It is a problem folks. A big problem. Especially for the Realtor who is trying to close the sale before that happens.
You don't want to get one of these at the closing table! 
Allison Stewart REALTOR ®St. Cloud Florida
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Boy, this is a sign of the times!