Leased Solar Panels can Help or Hinder a Home Sale
Ray Shay Broker/Owner Shay Realtors |
To some home buyers, solar panels are an appealing and environmentally friendly upgrade to a home, but when it comes to leased solar panels, they maybe be a deal breaker. Would-be-buyers that love a house will often not sign a contract when they learn they will have to take over lease payments for the next 10 - 15 years. Because of this, many homeowners have to buy out their solar leases at a huge cost before selling their home.
Many times sales fall apart when parties can't agree on how to handle the payments owed on long-term leases. Make sure you know the potential down-the-road costs of leasing rather than buying solar panels, especially if you are planning to sell in the future.
If you do find yourself planning to sell and you are in a long term lease, call the leasing company to learn about transferring and buyout options or call professionals to sell your home that can get you the best possible price and will be prepared when prospective buyers have issues with your panels.
- Ray Shay
858 449-4970
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