Where You Get Your Solar Matters – A Lot!

It’s been awhile since I’ve talked about solar, but I feel like it’s worth a mention because it’s become a big deal in the real estate business. It turns out that solar isn’t the easiest business to run, because there’s a record number of solar companies that are closing up shop or going through bankruptcies.

On the surface, it doesn’t seem like a big deal: you have your solar panels installed, so who cares who the company was that you hired?

Why Solar Panels Can Be a Problem in Real Estate

The problems happen when people lease the equipment or do a power purchase agreement. What happens is that if someone sells the house, then they need to transfer the agreement. The solar company put a bunch of notifications on the property’s title, so there is a lot of paperwork that needs to be handled for this solar transfer. If the solar company is gone, then it’s a big issue!

I know title companies are doing a lot of work to try to help. But solar issues are causing a lot of delays out there right now.

Note to self: if you are thinking about selling or buying a house that has solar and you are going under contract, then start dealing with the solar transfer as soon as possible. We’re seeing some of these deals where it can take months to go through.

I just wanted to share these thoughts so that you can consider how solar panels might affect your home sale or purchase.

Choose a Reputable Solar Company

By the way, I can’t say enough good things about the solar company that we bought from: New Day Solar. They are based here in Temecula and a multi-generational owned family business. There’s no doubt that they will be around for a long time!

If you are going to install solar panels, then make sure to choose a company with a solid reputation. Also, the great thing is that they won’t even put you on a lease (we recommend against leases for so many reasons).

If you have questions about your upcoming home purchase or sale and need help with the financing, then I am always here to assist. Contact me any time for personal recommendations.