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Updated about 6 years ago on . Most recent reply

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3
Posts
1
Votes
Rene Salinas
  • Real Estate Agent
  • Dallas, TX
1
Votes |
3
Posts

What do you do with existing solar panels with a lean

Rene Salinas
  • Real Estate Agent
  • Dallas, TX
Posted

If you came across a great listing that was updated inside and out but had solar panels with a 20 year contract or ($20k lean) attached to the property, how would you handle it?

A couple of caveats. 

1. The only way for the seller to remove the solar panels is to transition them to another property and unfortunately the seller does not have another place to transition the solar panels to or pay them off.

2. If the buyer wants to keep the solar panels they have to transition the 20 year contract to themselves. 

3. The seller would have to pay off the $20k lean to keep them at the property for the buyer to receive free electricity for the next 20years!

What would you do?

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