owner wants a personal guarantee on seller financing

[Andrew Brewer]

I'm negotiating a contract on a MHP right now and the seller is offering seller financing but he wants to add in a personal guarantee clause, essentially making the seller financing into recourse debt. I've always heard that seller-financing is non-recourse and I'm wondering if it makes sense to proceed. The seller is a mom and pop

I understand the sellers concerns because since its a MHP, if I move all the homes out or lose all the tenants then the property loses its value and if I default the seller would be screwed.

On the other hand, while I don't plan on defaulting, I don't want to sign into something stupid. Does anyone have any advice on this?