Sunshine Nightmares: The Horror of Leased Solar Panels
Here at Croskey Real Estate, we’re all about helping our clients find their dream homes. But sometimes, those dreams can turn into full-blown nightmares, especially when it comes to solar panels. Yes, solar power is good for the environment, but what happens when you inherit a leased solar system on a house you’re buying? Let me tell you, it can be a real horror story.
Imagine finding the perfect California home, complete with a sparkling pool and a view of the delta. It even has solar panels – what a bonus, right? Wrong. Unless you understand the terms of the lease, this “bonus” can turn into a financial sinkhole.
Sunrun Blues: The Leased Solar Trap
Let’s talk about a common scenario. Companies like Sunrun offer solar panel installations through leases, not purchases. This might sound appealing – no upfront cost! But here’s the catch:
- Hidden Costs: Those monthly lease payments can add up quickly, often exceeding the amount you save on electricity. What seemed like a steal can turn into a financial burden, especially if electricity rates go down.
- Early Termination Fees: Thinking of getting out of the lease? Be prepared for a hefty early termination fee that could run into the thousands. Suddenly, selling your home becomes a complicated (and expensive) proposition.
- Maintenance Headaches: Guess who’s responsible for repairs and maintenance? You are! Those shiny panels can deteriorate over time, leaving you with a hefty bill to fix them.
Beyond the Preliminary Report: Unmasking the Monster
So, how do you avoid this solar nightmare? Here at Croskey, we go beyond the surface. A simple preliminary title report might not reveal the full story. We recommend:
So, how do you avoid this solar nightmare? Here at Croskey, we go beyond the surface. A simple preliminary title report might not reveal the full story. We recommend:
- UCC Filings: These filings can show liens on the property, including solar panel leases. A quick check can expose any hidden financial obligations.
- Escrow and Title Due Diligence: Don’t rely solely on their work. We double-check everything to ensure no surprises are lurking in the fine print.
Your Dream Home Shouldn’t Come With Baggage
Buying a house is a big decision. Don’t let a hidden solar lease turn your dream home into a financial nightmare. Choose an experienced realtor who looks beyond the surface and protects your interests. At Croskey Real Estate, that’s what we do. We’ll help you find the perfect home, with or without solar panels, but one that won’t come with any hidden monsters.
Buying a house is a big decision. Don’t let a hidden solar lease turn your dream home into a financial nightmare. Choose an experienced realtor who looks beyond the surface and protects your interests. At Croskey Real Estate, that’s what we do. We’ll help you find the perfect home, with or without solar panels, but one that won’t come with any hidden monsters.
Contact Croskey Real Estate today and let us turn your home-buying experience into a sunny success story!