Selling House withe Solar Panels

k3lvc

MobileSaver wrote: »

This is your only real option; you might try a little kite flying and increase the price of the property by a few thousand to mitigate your loss. You never know you might get lucky, especially if you actively promote the FiT income to potential buyers.

Can't imagine the lender buying into this in terms of valuation - again restricts the buyer pool to those who can afford to/are prepared to buy the 'future benefit' from you upfront

MobileSaver

k3lvc wrote: »

Can't imagine the lender buying into this in terms of valuation

Not all but I'd say the vast majority of lender's valuations simply agree with the buyer's and seller's agreed price; Valuations are an art not a science and I can't see too many eyebrows being raised by a typical £250,000 house having a 3, 4 or even £5,000 higher price tag. Obviously if it's only a £100k house then that limits the scope for increasing the price.

Thanetia

There is actually quite a lot of information online about this - although much of it may not be exactly what you are wanting to hear ..... good luck with you sale

http://www.ghplegal.com/ghp-insights/2015/04/qa-are-there-pitfalls-to-buying-a-house-where-solar-panels-have-been-installed/

http://www.thegreenage.co.uk/buying-a-house-with-solar-panels/

https://www.lawsociety.org.uk/support-services/advice/articles/the-pitfalls-of-solar-panels/

https://www.cml.org.uk/lenders-handbook/solar-panels-and-the-lenders-handbook/

eddddy

Thanetia wrote: »

There is actually quite a lot of information online about this - although much of it may not be exactly what you are wanting to hear ..... good luck with you sale

The major concerns raised in those articles mainly relate to lease schemes.

The OP has bought her solar panels. So the issues are different. (As long as she doesn't go for the 20 year contract she mentions.)

Clare_168

Thanks for all the comments, Option 1 seems the sensible option for me. Option 2 would limit my options and narrow buyers and the lenders that would lend to them.


At least I have got an answer that I am comfortable with.

Grenage

This is subjective, and I will give my personal experience.

Purchased a house in 2012 that already had a rent-a-roof scheme in place; I had no plans to install my own panels, so it did not bother us. This was a 3-bed terrace in an nice ex-council area; these are the best bang-for-buck family homes for miles.

I sold in November last year, and was also dubious about the impact on a sale. It made no discernible difference, and I had plenty of viewings and plenty of offers.

So I doubt it makes any real difference in the bottom end of the housing market, but it probably makes a difference to the mid-upper market. I can't imagine many such homes having rent-a-roof schemes anyhow.

As for aesthetics; some people will mind, plenty of people won't. There are countless period properties around here with glittering rooftops.

I would leave them or remove them on a mid+ property; I would considering selling the FiT if it was entry level.

saverbuyer

I'd potentially view a house with solar panels fitted. If the house was reasonably priced, in an area I really wanted to live. I'd probably consider removing the panels to get rid of the eyesore.


I wouldn't even consider viewing a house with rent-a-roof panels. In fact I'd ask the agent before viewing what's the ownership situation.


Oh, and I'd pay less for a house with panels than one without. I'd have to take account of the cost to remove them and the eyesore value.

AdrianC

I'd certainly buy a place with panels ahead of a similar one without - it would be a factor in the decision. If the FiT is transferable, and on the old rates, then that'd be a big factor.
Would I pay more? Not necessarily.
BUT... that presupposes they are owned. If it was a rent-a-roof, then I'd be looking to reduce the offer by the cost of buying it out of the scheme. If that wasn't possible, it may be a deal-breaker.

hazyjo

Wouldn't touch a house with solar panels. Is there a third option to have them removed?


Jx

TBagpuss

Mortgage lenders tend to be unhappy about lending on properties where the roof is leased, so if you currently own the panels as opposed to having leased your roof, your property will be more saleable.