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I sold my first solar home last year, but the equipment was leased and their was no reference to it on title. The buyers simply needed to apply for the credit check to be eligible for the new lease or if they didn't want the solar, it could be removed at no cost to the new owner and the seller had to pay a fee fee to cancel the contract early. It was fairly painless, mostly just a lot more questions to answer.
Ryan Huggins - Thousan...
Thousand Oaks, CA
No, these leased, or encumbered units are a definite addressable concern on sales
Sandy Padula and Norm...
I have not and can't say I've even seen/showed a house for sale here with them.
Anthony Acosta - ALLAT...
Not as of yet no
Those loans usually need to be paid off at settlement. Some sellers are shocked.
Nina Hollander, Broker
Jan, the lien thing has become problematic in this area. The contracts seem to be very long term, and if the new buyers don't want to assume the contract, there is no deal. People need to be very careful about long term leasing or purchase agreements.
I did one sale that included paying off the lease on the solar.
I can't say that I have. We don't have a lot of solar panels around here!
Yes more then one time.
Not with a lien but paid for. As to liens, a good pre-lim will reveal much
Richie Alan Naggar
I have not Jan Green
Anthony Acosta - ALLAT...
solar is just getting off the ground here.... although, back in the 1970's I had solar panels for hot water.... early stage of solar!!
Solar is till being pushed in this area, many use tax incentives as a sales pitch, but only a small % of homes have solar. If listing a home with solar, I would want to see the contract, and I would probably also suggest we do a title search up front.
Solar panels are rare in Clarksville and I have never sold a home that had them.
Sold solar self owned and leased both. People here are smart enough to know the leased is not a good investment.
Not sure about the lien. If so I know better.
I don't recall all the specifics but I did sell a home last year with solar and as I recall there was a lease. Buyers had to be approved during the process. It went very smoothly.
Other solar homes had the systems already paid for.
Liens can be an issue for some lenders I think
I haven't sold a home with solar that has a lien on it, but there is quite a bit of talk about this here, as we have a lot of homes taking advantage of how suny it is here year round.
Not many in Minnesota as of yet so I have not.
I have not been involved in any solar yet. I hear the lien ones can be a real pain though.
I have heard of disasters with solar liens here on AR as a matter of fact. I have not personally ever sold a home with solar panels.
I have shown homes with solar panels but have yet to sell one.
Never been involved in this type of transaction. Will be interested in the answers!
I have been to a couple of listing appointments where this is an issue. We are working out one now to find the facts as what the sales person said and what is on the contract are different
Has anyone sold a home with solar panels with a lien?
It is a shame the way many of these companies sell these leases. I think that is is a lot less expensive to just buy them, which is what I did.
I have no idea what a UCC filing is though.