Home Buying in Phoenix>Question Details

Jennifer San…, Real Estate Pro in Surprise, AZ

Buying a home with Solar Panels? Buyer Beware

Asked by Jennifer Sanchez, Surprise, AZ Fri Jul 25, 2014

Over the last few years Solar Panels really grew in popularity with Tax credits and consumers looking to lower electric bills. Buyer Beware:
I strongly suggest you request the Lease agreement and contact information for the Solar company during your inspection period. We have discovered many leases that have a gradual increase in payments of the years. For example, after 15 years the Solar payment for a 1490sq ft home was to be $480.00 month.

Check with your home owners insurance, we have found several of the larger companies that do not cover the panels. For example if the roof leaks due to the panels, you will not be covered. Other companies we talked to have separate riders you can take out for coverage.

Lastly, your credit score could be an issue. Some Solar companies require a 680 credit score in order to transfer the lease. You may not be able to transfer the lease and purchase this home.
more on solar at http://blog.jennifersanchezteam.com/blog/solar-save-save/

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Answers

6
Jennifer,
Good information, wrong forum. This belongs in the blogs. Q&A are for Questions from one party and answers from others. Use Trulia well and you'll receive great exposure, earn business and possibly referrals from around the country. Misuse it and they can remove your account. Review the community guidelines and enjoy the site.
2 votes Thank Flag Link Sat Jul 26, 2014
Great information, wrong forum. Post this as a blog under your profile where it's likely to get more attention.
1 vote Thank Flag Link Sat Jul 26, 2014
I think that this can be a nice addition on a home. I agree that you will want to make sure you research what this will involve though. A home with solar panels might not always be the best option for everyone. http://www.solarrfp.com/index.php/solarbasics
0 votes Thank Flag Link Wed Oct 29, 2014
My family looked into solar panels with mixed results. Since we were looking to move, it wasn't and the best investment. Though at our new home, we called around to the solar companies and got some good ideas. We are in the process of deciding.
Michael Foster http://greenhomespecialties.com/service.php?sid=15
0 votes Thank Flag Link Mon Aug 18, 2014
Yes, do a thorough investigation and get all the details even if it means extending the 10-day inspection period.
0 votes Thank Flag Link Sun Aug 10, 2014
awesome post great information
0 votes Thank Flag Link Fri Aug 8, 2014
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