I’m under contract and just found out the seller is being sued.

[William Thorn]

I’m under contract on a 22 unit apartment building in Phoenix. I have my inspection tomorrow and met with the broker today and he said they were just sent a letter from a lawyer saying the seller going to be sued relating to a separate business he’s involved in. He stated the apartment building is part of the lawsuit so I’m not sure if it’s listed as an asset and that’s why it was in the letter. I have very limited information obviously. I let escrow know and they said there aren’t any liens related to the building however I should seek legal advise which I’m planning on. Has anyone had a similar situation or have additional advise? Thank you.

[Bob Floss II]

All depends on the lawsuit.