Furthermore, because they've suffered (potentially due to an overpriced listing) they know the value of getting it sold quickly.

This is not your problem and you should not suffer from it.

@Jeff Filali  This is the kind of crap that makes people like me despise the entire wholesale/contract flipping enterprise - and especially the gurus who make money teaching this garbage.The homeowners were seriously abused throughout this and they suffered very real damage.As to the sellers doing more due diligence, sure. 

I don't want to take advantage of him, or even create anything close to that perception, and I want to be sensitive to the fact that he just suffered a major loss in his life.  

I expect there to be a wide range of positive and negative response to this campaign but the reality is, we want the world to know that we do not have the luxury to sit idle and let our customer service suffer.

People that are not attorneys, seasoned RE agents like myself or have not been a licensed broker before will suffer greatly by using programs like this.

I don't know why I'm finding this thread so annoying - it could be the cold I'm suffering from - or I could just be cranky.

Most standard RE contracts have a block for an EM Note.If a property is listed with a broker, many brokers will not allow a contract without EM, or they will counsel their client to reject the contract until EM is deposited in some way.One loss that can be suffered is the loss of the RE Commission to the broker.What if a buyer has an inspection and the buyer faile to pay for it?

well, if both are on the loan, then a straight out modification may be difficult. when a married couple buy a house and both are on the loan, they are both agreeing to pay. the income hasn't changed as individuals. getting a loan modification is typically granted when the entities have suffered a loss of income and can prove that they won't be able to make payments.this may be difficult to get a modification approved, but a short sale may be possible as the bank may take a bigger hit if it went to auction (foreclosure).

Dave,the Rochester/Buffalo real estate market has not suffered as national.