Solar Panel Relief Plan

One common challenge that home sellers often encounter arises when they are attempting to sell a property burdened with a solar panel lien, such as a $70,000 outstanding balance for example. In such situations, sellers typically find themselves with limited options:

1. The buyer may seek approval for the additional $70,000 in their mortgage, but this can be problematic as mortgage lenders often hesitate due to the impact on the buyer's debt-to-income ratio (DTI), potentially rendering them ineligible for the loan.

2. Alternatively, sellers can opt to have the solar panels removed from the current roof and installed in their new residence. However, this route can be financially burdensome, involving expenses not only for the panel transfer and new installation but also the repair of the roof where the panels were previously affixed. This combined expenditure can range from $7,000 to $15,000, making it a costly endeavor.

3. The third option entails sellers settling the solar panel balance at the time of closing. This can be particularly challenging if sellers lack sufficient equity in the property, potentially necessitating an out-of-pocket payment. In many instances, sellers have had to cover this balance from their own resources.

4. Our Solution: Fortunately, through our partnership with a reputable company, we offer a solution. We can purchase your property and assume the solar panel lien loan without any additional fees or costs, alleviating you from these burdensome financial and logistical concerns.