Hello Friends! 👋 Just saw this in a FB group and thought I would share here as an article or video idea for your newsletter or Social Media posts. As a new agent, I find it hard, atleast for me, to know what my audience might find interesting other than Market Reports which can seem a little dull. When I saw this subject I thought it was pretty helpful and easy to communicate to my audience. Here ya go:”Buyer purchases house.
Buyer puts on solar panels.
Buyer decides to sell house.
New buyer willing to assume entire solar panel loan.
New buyer can’t, bc debt to income will be too high. And law does not allow solar loan assumptions.
Seller will pay half.
New buyer will pay half.
Mtg company says NO.
Seller is required by law to pay off loan in full. Prior to sale.
Seller pays off loan in full.
Seller is walking away with $0.00 from the closing table.

Sellers entire equity was eaten up by the solar loan payoff.

OOPS… this is one of many reasons why you shouldnt get solar. If you cannot afford to pay cash up front. Then dont do it, RIGHT NOW.
Solar does not save you money, compared with the cost. Panels right now, are not efficient enough. So ROI is not enough to justify it.
And all youre doing is converting your current utility payment, into a LOAN PAYMENT.
Let that sink in for a minute.”