Hi guys! I'm desperate and need some advice, and you all seem like experts here! I'm hoping maybe someone has been in this situation before, and can offer some tips!
I own my home, about a year ago I got solar installed on it, and have a loan (its financed through Mosaic). To clarify, its not a leased solar, its owned, except I'm paying monthly on an installment.
I listed my property for sale, got an appraisal done.. and guess what? The appraiser cannot include the panels as part of the property value because there are no comparable in this area that also have solar. I find this incredibly unfortunate. Now I can't include the panels in the home sale price, because it wont appraise. Of course... If the buyer wants to pay for them in cash, they can but bank will only finance the appraised value obviously.
So, my realtor listed our house under the condition that the buyer would need to quality for and assume the solar loan when they purchase the house. So far, no-one is biting. In fact, I've had people wanting to see the home and then cancel the showing after they found out about the solar loan. Of course no-one would want it, I know I wouldn't! Don't get me wrong, I love my solar panels, I would do it again, but the fact that they can't appraise because there's no comparables with solar is just ridiculous!
So I thought OK fine...... I'll just take my panels with me to my new home! So I talked to Mosaic (the finance company for the panels) and they said under no circumstances can the panels be moved off this property until they are fully paid off. I tried negotiating.. no can do. No way no how.
I'm just stuck here! Anyone have any advice for me, I would appreciate it so much!!
Thank you!
Lily
I own my home, about a year ago I got solar installed on it, and have a loan (its financed through Mosaic). To clarify, its not a leased solar, its owned, except I'm paying monthly on an installment.
I listed my property for sale, got an appraisal done.. and guess what? The appraiser cannot include the panels as part of the property value because there are no comparable in this area that also have solar. I find this incredibly unfortunate. Now I can't include the panels in the home sale price, because it wont appraise. Of course... If the buyer wants to pay for them in cash, they can but bank will only finance the appraised value obviously.
So, my realtor listed our house under the condition that the buyer would need to quality for and assume the solar loan when they purchase the house. So far, no-one is biting. In fact, I've had people wanting to see the home and then cancel the showing after they found out about the solar loan. Of course no-one would want it, I know I wouldn't! Don't get me wrong, I love my solar panels, I would do it again, but the fact that they can't appraise because there's no comparables with solar is just ridiculous!
So I thought OK fine...... I'll just take my panels with me to my new home! So I talked to Mosaic (the finance company for the panels) and they said under no circumstances can the panels be moved off this property until they are fully paid off. I tried negotiating.. no can do. No way no how.
I'm just stuck here! Anyone have any advice for me, I would appreciate it so much!!
Thank you!
Lily
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