What must a buyer seek if a seller's existing loan has an alienation clause?

When a seller's existing loan has an alienation clause, it means that the lender has the right to call the loan due if the property is sold or transferred without prior approval. In this situation, the buyer must seek new financing because the alienation clause typically prohibits the assumption of the loan by another party.

New financing would allow the buyer to secure a mortgage independent of the existing loan's stipulations, thus avoiding any complications associated with the alienation clause. By obtaining new financing, the buyer can purchase the property while respecting the lender’s requirements and conditions outlined in the current loan agreement.

Options like loan assumption, reduction in loan terms, or change in interest rate are not suitable here, as they do not address the need to pay off the existing loan due to the alienation clause. Loan assumption would require the lender's consent, which may not be granted; therefore, seeking new financing becomes the necessary course of action.