Fortunately, they do notify you if the bill is months overdue.

@Joe B.Omitting that the renter was not paying full market rent, and had been doing so for a lengthy period of time would be considered an omission, as it was a known fact, and was intentionally left out, as it would have been detrimental to the deal (in this case, a rejection of the deal, and withdrawal of the offer). 

Sorry for the length, I wanted to make sure I posted all the pertinents!

I have a lengthy Legal Opinion, from my seasoned Legal Team regarding this matter. 

Without a will a different more lengthy legal proceeding is undertaken to appointed what us often called an Administrator.

No lengthy back and forth like a short sale.

Why would anyone go through such a lengthy process, just to get return on a meager thousand?

One of the residents of that property was shot in the driveway three years ago, so the police keep encouraging me not to engage that neighbor directly, which has made the entire process very lengthy.

They have no problem charging 20%+ APR for overdue balances plus late fees, etc..

A more likely scenario is when an owner with equity goes into a lengthy deliquency, then does a Loan Mod where a large arrearage is added to the balance.