This is why I'm saving up to actually buy an aparment or something right off the bat without having to take out a mortgage. I would much rather be the owner of a country shack that only has the bare basics than in debt to a bank because I took out a mortgage on a Luxury Apartment I knew I couldn't afford. I can't understand why people take out mortgages on things they'd only be able to pay back on the next 10 - 20 years, I just think it's madness. The ironic thing is that people like that have a go at me about how trading is like gambling.
The article says the realtors spring a lot of documents on you at the last second. Nearly everybody still signs. This is a great technique to dump your place on someone else.
Realtors do spring stuff on people and hide stuff... you need two Realtors always, one to do the ordinary stuff where they screw both the buyer and the seller because they are on commission and another one in your corner, that's savvy to what realtors do, that inspects every little step of the entire process for you and explains what is going on... and can tell you when to just say no...