Solar panels are prohibitively expensive to purchase and install outright on a home.
Luckily, there are many companies that offer lease-deals on solar panels, and the use of the alternative energy source is growing.
But, a few years into such a lease, what happens when the owners need to sell their home and the buyers either refuse or can't qualify to take over the solar panel lease?
This article in the LA Times said either the sellers pony up the money, or the deal falls through:
"Some would-be buyers balk when they learn that they'll need to qualify on credit to take over your solar lease payments for the next 15 to 17 years. Others say they like the house but won't sign a contract unless you buy out the remaining lease payment stream — $15,000 or $20,000 or more — because they're worried that the solar equipment will become obsolete or won't save as much on electricity bills as advertised."
"Issues like these are popping up increasingly in California and other states and are interfering in sales and closings, according to real estate industry experts."
(h/t: Realtor Magazine)
