Tuesday, August 4, 2015

A very serious consideration today!!!  If you live in an area with a lot of sun and have been approached by sales people to obtain a solar lease, BEWARE!  These "leases" are actually a lien on your property which frequently cannot be subordinated or transferred when selling your property. Which means, you need to pay it off from your sales proceeds.  A few of these liens can be subordinated so the Buyer can take them, but there are fewer buyers who want to take on such a responsibility.  And, the administrative fees for these liens are way out of line - 7% or more!!!

So I am advising you to NOT purchase your solar set-up through a lease.  If you want solar, borrow money from your equity and install the solar equipment on your roof. 

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