You will tend to have more recourse with an attorney if they prepared your security instrument and note opposed to a licensed mortgage person.

If they did, their security instrument would only cover 50% of the property.

Are most of these folks just making offers with no financing contingency, then tapping lines of credit or using other instruments to close these deals, or are they literally wiring cash from their checking accounts at closing?

I am still confused about all this because in my state ( massachusetts ) the security instrument used by lenders is a mixture of a deed of trust and mortgage.

Hi Josh - Is your intention with the review to establish that there are no legal issues with the language on the note and security instrument that would prevent you from pursuing a potential future foreclosure? 

Notify your Mortgagee of such things, there is a specific instrument template.  

ACCEPTANCE: This instrument will become a binding contract when accepted by the Seller and signed by both Buyer and Seller.

Instruments between you and  your lender;Promissory note spelling out termsFirst mortgage on the property for lenderInsurance naming lender as mortgagee /  additionial insured.Does that help

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There is no such leverage with other financial instruments.• 1031 Exchange: Remember that every time you sell a stock you pay capital gains on profits.