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If the seller has a mortgage on the home, their bank or lending institution can demand instant payment of the debt in complete if your home is offered (to you). That's due to the fact that most mortgages have due-on-sale stipulations and if the loan provider isn't paid, the bank can foreclose. To prevent this danger, ensure the seller owns the home free and clear or that the seller's lender agrees to owner financing. With many owner-financing plans, a big balloon payment becomes due after…