Today's Learning... A Client with Alzheimer's

We went to a closing today...  Our sellers are long time friends and we have been helping them liquidate their Real Estate holdings due to his onset of Alsheimers.

It is a vicious steadily debilitating disease, and is painful to watch.  In the past year he has retreated into more and more darkness.

Ralph felt he should alert the closer that our client might need a few more courtesies and time to respond to instructions.  When he told her what was going on, she said "oh, we cannot close!"

After 60 combined years in this business, we knew that there might be a need to use the power of attorney that had been prepared several months ago, or there might be some other things to do but, surely we could close.

When the buyers arrived the closer had made some calls to attorneys etc and told the sellers wife that she needed to see the original power of attorney and she would need to get a letter from the doctor that the patient had been in his right mind when he signed that.

She said all that in front of the clearly confused seller.  His condition has deteriorated since the last time we saw him, last week.

The buyers could go on and close, but the sellers side would have to wait till the proper papers could be  provided and reviewed.

The seller dutifully took off and went to collect the papers and called us thirty minutes later having achieved the goals.  We told her to fax the stuff so the reviews could begin.  It looked as though we will be allowed to close Monday or Tuesday if the original letter from the doctor could be picked up by then.

We closed a transaction at a different title company less than a year ago without all the harang.

It seems  incredible to me that there are people out the who would sue a title company because the seller was sick when he signed papers.

He was fully aware of what was being said about his condition and the wife said in the outer office " that woman needs to learn some finesse !  I agree completely.

The sellers said that since the buyers money and the mortgage company's check  is at the title company, we should get keys and garage door openers to the buyers and tell them it is alright for them to move in today.  How nice of them.  No risk, right....  Wrong!

Then late this evening the sellers wife found that the doctor will not sign the letter, until they come back in for a visit.  The first available time is Wednesday.  Excuse me?  How does the patients condition this week have anything to do with his condition when he signed the POA in December?  It does not!   Surely they have files with those findings.   This is just an obvious attempt to get another Doctors fee!  In the mean time the transaction cannot fund or be recorded.  When will it be time to refigure closing statements? The ramifications just go on and on.

We learned a lesson that we never wanted to know, and are sharing it with all of you,  so you will get those docs before you show up at a closing. We are told that the rules for this have been in play for years....?  Is that so!