Buyers today are often looking for energy efficient and environmentally friendly features in a home. Therefore, solar panels on a home can be considered to be a real asset. However, it is important to know early on in a home sale if the solar panels are in good condition and, whether the solar panels are owned outright or leased.
If you are considering buying a home with solar panels make sure you ask whether they are owned or leased. This information should be contained in a well put together disclosure packet. The first place to look is in the Preliminary Title Report.
While solar panel leases can usually be assigned to a buyer, they add an extra layer of complication to closing a transaction. And, in a worst case scenario they may have to be removed.
The excellent article below from my friends at Cornerstone Title explains more on this topic.