Sue the bank for blocking deal? No due on sale clause.

[Brandon Hicks]

Long story short....I am negotiating on a commercial property financed with a commercial loan held by a small local bank. Seller is willing to sell to me on land contract with no down payment but the bank is threatening to call the note if we close. Seller is unwilling to close due to the banks stance. I've never seen a due on sale clause on a small bank commercial loan. If there isn't one on this one would it be worth while to sue the bank for attempting to block the deal? Or at least threaten? Anyone have experience with this?

I want the property not a pissing match but if they won't play ball I wouldn't mind shoving their ball where the sun don't shine ;)

[Dion DePaoli]

Have you tried approaching the bank to assume the loan all together instead of a land contract?  

Might be a better solution if you can swing it and they will agree to it.