Buying/Selling House with Solar Panels

Rock2000

Oh I hear that spendinglikemad!


I would have steered well clear!


The price was already bought down before we viewed the property and he wasn't bring it down anymore. He stuck to his guns when we started offering and obviously saw this as a way off making the price reduction up! Sucks when all people can see is the money they can make. Some may have a fair game attitude but I just couldn't do it myself!

Comms69

Basically the price should've factored that in.


That said unless you've exchanged the vendor may pull out

ComicGeek

Sounds like your husband has to take part of the blame if this was explained during the viewing - if he didn't understand then he should have asked for an explanation and raised it via the solicitors.

I have seen this a few times now, there are a number of companies out there willing to buy FITs for cash, particularly those high tariffs at the start which may still have 19 years left to run. My FITs are worth approximately £30k over the next 19 years, not adjusting for inflation.

The real problem will be that the contract will be between the company and the seller - that will then be transferred across to you as a fait accompli without you being able to change it. If you do go ahead with the purchase make sure that you see the final contract before exchange, and be prepared to walk away if it's too onerous - for example:

What is the process/costs for when you have to do any roof repairs and need the panels temporarily removed
Are you required contractually to provide regular meter readings
What are the access requirements for maintenance of the inverters and panels

I have also seen conditions regarding length of power outtages(!) and electrical installation inspections.

Rock2000

I said the same to their estate agent but they didn't agree... The feel I'm getting from the agents and solicitors in our chain is that he is well within his right to do it and so should do it if he wants. At the end of the day no one is putting a gun to our heads etc and I totally understand that and agree, I just wish I would have none from the get go as would have been easier to walk away then!

rtho782

Walk. There are always other houses.

Rock2000

Oh absolutely ComicGeek! I was fuming with him when I found out! But as we were told an option was the vendor would take them to his new property, we thought worst case scenario, we would just do that. At that point though, neither us, the other solicitors or estate agents could even get hold of our solicitor! It’s been a nightmare throughout!!

Marvel1

Rock2000 wrote: »

I said the same to their estate agent but they didn't agree... The feel I'm getting from the agents and solicitors in our chain is that he is well within his right to do it and so should do it if he wants. At the end of the day no one is putting a gun to our heads etc and I totally understand that and agree, I just wish I would have none from the get go as would have been easier to walk away then!

Remember the agent doesn't work for you only the seller, they don't have your interests.

Would renting in the short term help? That way your sale goes through.

Scotbot

I pulled out of a house with solar panels when I found out they were part of a rent a roof type lease, the EA tried to tell me it was a benefit but 3 months later it is still on the market and has had 2 price reductions. Another house with solar panels nearby is also struggling to sell after 4 months and 2 hefty reductions.

To be honest after the first one I refused to look at any house with solar panels. They are OK if the vendor owns them outright but you don't find out the small print until you are a long way into the conveyancing.

chappers

Rock2000 wrote: »

We struggled to get our buyer as it is so I feel totally blindsided and gutted I would have spoken up much sooner had I known!

That's as may be, but think about this carefully and go over the implications with your solicitor, Personally I would be wary about buying a house from someone and having to take on board the conditions of a lease that then favoured third party. You need to very carefully check their obligations to you and also their rights of for example access to your land/roof

Essentially I think the process will be that the vendor will contract with the third party to buy the lease and then you will buy the property with the lease already in place.

Solar panels could be become big conveyancing issues in the future.

TonyMMM

Don't walk away .......Run

He has made selling his house a big problem for himself, and is trying to pass that on to you (even worse, because you will have a 3rd party involved).