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Buying a house with solar panels installed.....
Posted on 5/31/15 at 8:18 pm
Posted on 5/31/15 at 8:18 pm
Are they an asset or a liability?
Seller believes that the panels are an "added" value. I disagree and do not want to assume his lease. I have countered with a request that he pay off the lease or reduce the price an equal amount.
Homeowners Insurance won't cover "leased" equipment, but not sure on that.
Anybody here have any experience buying a house with a solar lease?
Seller believes that the panels are an "added" value. I disagree and do not want to assume his lease. I have countered with a request that he pay off the lease or reduce the price an equal amount.
Homeowners Insurance won't cover "leased" equipment, but not sure on that.
Anybody here have any experience buying a house with a solar lease?
12
Posted on 5/31/15 at 8:20 pm to Lombardi44
Don't you get a fairly substantial tax break for stuff like that?
Posted on 5/31/15 at 8:20 pm to Lombardi44
I think solar panels are a good thing but if they're leased, the seller absolutely needs to cover the remaining portion of the lease.
Posted on 5/31/15 at 8:20 pm to Lombardi44
kind of like a swimming pool, IMO...one perspective buyer may love it, while the next is only thinking about the cost to fill it with dirt...
Posted on 5/31/15 at 8:21 pm to Lombardi44
I wouldn't pay a dime over $100/sq ft... Apparently that's top of the line in NO now.
Posted on 5/31/15 at 8:24 pm to Lombardi44
You need to consider potential roof leaks due to the panels, provided they're mounted to the roof.
I would ask for a warranty on the equipment for a period of more than 12 months if they won't decrease the selling price. I don't like the idea of solar panels on a house. I'd much more prefer a geothermal HVAC system.
I would ask for a warranty on the equipment for a period of more than 12 months if they won't decrease the selling price. I don't like the idea of solar panels on a house. I'd much more prefer a geothermal HVAC system.
Posted on 5/31/15 at 8:24 pm to Lombardi44
I have solar on my house. They are worth it. With the tax credits though, he is probably 5k out of pocket on the system. They will pay for themselves in 5 years.
Posted on 5/31/15 at 8:32 pm to Lombardi44
How old are the shingles and what happens when they need to be replaced?
In my mind they would be a liability and an eye sore, I would want them removed at sellers expense
In my mind they would be a liability and an eye sore, I would want them removed at sellers expense
Posted on 5/31/15 at 8:55 pm to Lombardi44
quote:Nope, nope, nope, nope, nope.....
Buying a house with solar panels installed.....
Good luck but I would not do that at this time.
Maybe in twenty years they will be more standardized and proven.
Posted on 5/31/15 at 9:13 pm to Lombardi44
Owning the solar panels may turn out to be a good deal, but, LEASING solar panels is a losing proposition.
Posted on 5/31/15 at 9:17 pm to Lombardi44
Know those things have a life of only about 15 years. They fall off quick.
Don't count on tax credits to replace them.
I would deduct the cost of replacement now.
Don't count on tax credits to replace them.
I would deduct the cost of replacement now.
Posted on 5/31/15 at 9:22 pm to Lombardi44
Tesla Powerwall battery for solar panels. You move off the grid. The battery harnesses solar power instead of sending it back to the electrical company. You basically don't have to pay any electrical bills.
Your welcome.
Your welcome.
Posted on 5/31/15 at 10:22 pm to Lombardi44
The last thing I would want on my roof during a hurricane is solar panels.
I can imagine those things coming off, pulling a good chunk of your roof with it.
I can imagine those things coming off, pulling a good chunk of your roof with it.
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