If you’re interested in renewable energy buying a home with a solar energy system in place can also be a good thing. However, home buyers should know a few important details about the solar panels prior to purchasing a home with solar installed.
First, you should figure out whether the solar panels were purchased or leased. Even if the solar panels were purchased by the current homeowner, they may have been acquired with a loan.
As such, the seller is responsible for paying off any existing solar panel liens. Doing so means the new homeowner should receive full ownership of the panels at the time of closing. The editorial team at Money put different mortgage lenders to the test and laid out what they offer so you can start your home buying journey informed and ready to go.
Note: This article was written for SUNTEX by Raul writers from Money.com. Please reach out directly to SUNTEX if you have any questions regarding this article, or the blog post content.
