The liability docs can be pretty darn scary. I have even seen some liability release docs that kind of well… don’t really make sense… For example, they may go so far to state that the lender who now owns the property shall not be liable for being able to produce a clean title to the property! Well that doesn’t make to much sense because if they cannot produce a clean title then you cannot get financing. Kind of like a chicken/egg story right? Anyways that same document may go on to say, if I may paraphrase, well if we cannot produce a clean title then we are not liable but you do get your deposit back… so there is some acknowledgement there at the very least. So basically have your realtor really look over the entire liability release with you and if he/she is a bit unsure then ask him/her if you can sit down with thier broker. Those docs are pretty much filled with lawyers speak but in the end after you filter out all of the heretofore and mumbo jumbo it is pretty understandable.
