Please tell me you didn't add Solar!

By
Real Estate Agent with RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident BRE# 01215778

It seems like our nation is falling in line for savings on Solar Energy.  This all seems well and good as the savings can be incredible.  There is a major flaw in these programs that are either not explained or the ramifications are not comprehended by the consumer.  It may well be true that at the present time the savings are good and ever perhaps great and in 90 or 100 degree heat keeping the home as cool as 73 degrees for a low cost during the hot times of the year if fun and enjoyable.

The flaw in the ointment is that the current home owner is signing an agreement that may last 20 years or more.  This means that the present owner is committing the next owner and subsequent owners during he length of the contract to either assume the contract or having one of the parties pay it off.

Many buyers, especially low down payment buyers with possibly an FHA or VA financing must qualify for their loan and also qualify for the payment on the Solar.  Not only that but with constant innovation the system today may be obsolete or outdated in the near or distant future.

We come from a business background and know firsthand that you never want to sign an agreement that carries on after the sale and that it should be avoided whenever possible.

Call Us before making a foolish decision

Tony & Dani Lewis RE/MAX of Valencia

www.TonyLewis.com tonyglewis@yahoo.com

Call/Text 661-510-7975

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Ambassador
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

It's a consideration on my next home, but only as a purchase, not a lease

Jul 17, 2016 01:43 PM #1
Rainmaker
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Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

Over here it's a wise decision to go solar as the payoff comes so quickly.  But having  a leased system can be an obstacle when it comes time to sell.  Not too much of an obstacle though.

Sep 08, 2016 09:36 AM #2
Rainmaker
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Carol Williams
U.S.: I specialize in helping agents who have been in the business 2 years or less create a thriving business. - Wenatchee, WA
"Customized Mentoring & Marketing Services"

Interesting issue.  We have low electricity costs here so I am not familiar with the solar financing options.  Can't they be treated like an LID assessment and be paid off as part of the sale terms?   I would never sign a contract that couldn't be paid off early.

Jan 12, 2017 08:23 AM #3
Rainmaker
450,306
Tony Lewis
RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident - Valencia, CA
RE/MAX Valencia, Stevenson Ranch, Santa Clarita

They can be paid off early but the cost is prohibitive.

Jan 12, 2017 06:30 PM #4
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Rainmaker
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Tony Lewis

RE/MAX Valencia, Stevenson Ranch, Santa Clarita
Home values are rising, want to know the value of your home?
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