New member, first question.

[Albert Griffith]

I am an active developer of both residential and commercial properties overseas, and I am currently under contract to purchase my first property in the US.  It is a multi tenant retail property anchored by a discount retail chain.

My problem is that the sellers did not comply with the timeline to produce all documents.  It turns out that the anchor tenant estoppel had a notice of a pending rent issue.  The sellers have been really slow answering questions about the issue and have not produced the original notice, claiming through a listing agent email that the notice was verbal.

They disclosed that it was an insurance bundling and a tax reconciliation issue because they charged 100% of the real estate taxes to the anchor tenant (overcharged). Through the LA, they sent chopped off emails of an alleged solution.  We have requested but not received authorization to contact the tenant directly.

My attorney says that they should sign an indemnity agreement, they wont.  Instead, they offer a new, clean estoppel from tenant.

I cannot fathom how a claim of this nature would be placed verbally and not on a written notice.  I am seriously considering terminating the contract.  The new estoppel will not give me verifiable information of what the issue was, or whether there was a threat of litigation or termination, or insight as to what kind of relationship I am inheriting.  All I have are comments by my agent and the LA, plus a couple of chopped off emails from tenant.

Any input will be greatly appreciated.