Any exprience with selling a house with solar panel lease?

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Any exprience with selling a house with solar panel lease?

Downsizer Forum Index -> Energy Efficiency and Construction/Major Projects

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snowball
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 6246
Location: swindon

Posted: Fri Aug 31, 18 9:14 am Post subject: Any exprience with selling a house with solar panel lease?

We had solar panels installed in 2011.
It was a lease agreement, we didn't pay anything.
We get to use the energy created and the company get the money for the surplus pumped into the grid.
Lease automatically transfers to new buyers and solar panels and agreement become part of the deeds of the house.
We are now selling the house and the property company buyers are offering to pay half the cost of buyback of the lease. In effect tbis means we lose £6000 on an already ridiculously low offer.
Any advice or experience gratefully received.

dpack

Joined: 02 Jul 2005
Posts: 46212
Location: yes

Posted: Fri Aug 31, 18 2:40 pm Post subject:

i did notice such a thing on the particulars of sale i filled in last week, i don’t have them so no help sorry.

the important thing is to decide if this offer is worth taking or not.

if it was just the panels issue i would say go for it , a few % is a small price for a "bird in the hand" but there might be a better one " in the bush " .

assuming that a property company would offer something around the expected auction price there might be some scope in a bit more selling.

whether or not the extra time and stress is worth it depends on the local market, the market in enough of the future to find a buyer at a price you want, how much extra you can realistically expect etc etc.

for what it is worth i decided that the probable future trend in property values is likely to be downward for the one i am converting to more secure assets, that is partly based on location in a dormitory estate of a northern town in decline in brexit britain and partly based on they offered my price.
i added a few percent to my idea of a fair price for the current market, they took off twice that for an offer ,we split the difference which was still a few grand over what my estate agent thought i might get and at least 30% over a realistic auction price.
sold in a week, now i'm chewing me hooves that it will stay sold til they sign and then pony up.

Mistress Rose

Joined: 21 Jul 2011
Posts: 15967

Posted: Sat Sep 01, 18 6:20 am Post subject:

As Dpack says, it depends on whether you are willing to wait for a better offer. When I sold my late fathers house, I had one low offer from someone pointing out all the defects and that a new development round the corner was cheaper, so I suggested they went round the corner. I got what the original estimate was in the end, but I had time to wait, and of course we have no idea what Brexit is going to do to anything.

john of wessex

Joined: 18 Jun 2007
Posts: 2130

Posted: Sat Sep 01, 18 6:47 pm Post subject:
Why are you selling to a 'property buying' company?

wellington womble

Joined: 08 Nov 2004
Posts: 15051
Location: East Midlands

Posted: Sun Sep 02, 18 12:12 am Post subject:

I was wondering myself about the post Brexit housing market. I was going to buy a big place with land, which wouldn’t matter because we'd be there for the foreseeable, but it might work better for us to have an intermediary house for a few years, which I would want to sell. In which case I’d be better off waiting to buy for a bit. (I can’t offer any help, I’m afraid. I give up with houses, every time I make a sensible decision about them, everything changes. If I wait a bit to see what happens, nothing does!)

Mistress Rose

Joined: 21 Jul 2011
Posts: 15967

Posted: Sun Sep 02, 18 7:42 am Post subject:
I was wondering about the property buying company too. I think post-Brexit most houses are going to be affected the same way, so it won't make much difference to anyone buying and selling unless nobody has the money to change houses.

snowball
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 6246
Location: swindon

Posted: Sun Sep 02, 18 7:31 pm Post subject:
We are selling to a property company because they are the only ones that have offered to buy it in nearly a year. We told them to get stuffed and they have agreed to buy the lease of the panels out themselves. As suspected, they were trying it on.

Mistress Rose

Joined: 21 Jul 2011
Posts: 15967

Posted: Mon Sep 03, 18 6:14 am Post subject:
Glad they are being more reasonable. Pity nobody else is interested.

Nick

Joined: 02 Nov 2004
Posts: 34535
Location: Hereford

Posted: Mon Sep 03, 18 3:39 pm Post subject:

Snowball wrote:

We are selling to a property company because they are the only ones that have offered to buy it in nearly a year.
We told them to get stuffed and they have agreed to buy the lease of the panels out themselves.
As suspected, they were trying it on.

It’s not really trying it on. They made an offer. It’s just negotiation.

dpack

Joined: 02 Jul 2005
Posts: 46212
Location: yes

Posted: Mon Sep 03, 18 5:33 pm Post subject:
after a year i would find their offer to be more attractive than in the first few weeks

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