Solar leases could pose a hurdle when selling!
Here in Arizona, it's hard to listen to the radio for very long or to read the newspaper and not see an ad for a solar panel installation company. These installation companies lease the panels to you by promising you the lease payment will be lower than your electric bills. Not a bad deal, right? Not so fast says some experts.
A recent article in the Washington Post explains why a solar leasing deal may hold up, or even sabotage the sale of your home.
In a Realtor.com artile, they note that "Potential buyers are leery of taking on the leasing payment contracts for the next 15 to 17 years because they often have to qualify on credit from the solar companies themselves. Also, some buyers are hesitant to sign a contract because they're concerned the solar equipment will become obsolete or won't amount in a big savings in the end after paying the leasing fee."
Watch this before you decide to go solar on a lease: