We currently have an escrow that is completely stalled b/c the seller does not have a “sound mind” and is not capable of handling his affairs. The seller’s family likely “helped” the seller docu-sign the purchase contract and they probably thought they could “help” with all the signatures throughout the transaction.
They did not realize, however, that notaries will not notarize documents when they can clearly see that the seller is in no state to sign, or to know what he is signing.
Similar situations have arisen with borrowers we have worked remotely with over the years too. This is just a reminder to make sure all parties to a transaction are of sound mind.
In our above situation, the sellers have to obtain a special grant deed from the courts that will take several weeks.
Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 01524255, NMLS# 335646
