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 Not only that but with constant innovation the system today may be obsolete or outdated in the near or distant future.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