Personal Guarantee on Seller Finance Note - Advice needed!!

[Rosemary Montgomery]

I am under contract to purchase a RV park on seller finance with closing set for tomorrow. This started out as a cash deal but after numerous conversations with the seller, we came to seller finance terms with 55% down and interest only payments for 2 years, balloon on month 25. In our many conversations about seller finance terms, the seller never expressed that she would want a personal guarantee on the loan. She is real estate savvy so I'm certain that if a personal guarantee was something she wanted, she would have expressed it early on. Additionally we went back and forth on edits to the PSA and we did not agree to a personal guarantee in our signed purchase agreement. Suddenly, ONE day before closing, the title company which is also an attorneys office (the seller is not represented) tells me that their attorney recommends a personal guarantee from ALL investors on our LLC. The paralegal stated, "this is just how we typically do these transactions, and the seller won't close without a personal guarantee." Now the seller won't even call me back. Just a few days ago I was on site with the seller and we spent hours walking the property. We have always had a good rapport, no issues whatsoever until this point. We've been under contract for 6 weeks and this is a huge thing to spring on us one day before close considering it was never talked about, never agreed upon, not in our PSA, and the attorney at the title office is not even representing the seller. I had to raise money for this deal due to high down payment and there is no way my investors will agree to a personal guarantee, especially the day we are supposed to be wiring our money to title.

We are putting 55% down. Seller is obviously first position and is going to have lien on all of the park owned cottages and RV's. Is this not security enough?

I'd love any insight from this community. It is a really good deal and I've already spent thousands on due diligence and have a property manager hired and everything set to hit the ground running after closing tomorrow...

Just feeling very frustrated because this is the second big MHP/RV transaction in which a title company and attorney interfered in a way where things became contentious with the seller for no good reason (in my opinion).