Skip to main content

Found a solar lien on an as-is property. What different scenarios can happen from here?

Our offer on a fixer trust sale was accepted TODAY. Yay! Because this was a very hot property we had offered a 15 day escrow and waived inspection and due diligence contingencies but still have our loan contingency in place. Despite asking multiple times about the status of solar on the house (leased, owned, etc) we couldn’t get any information from the listing agent or trustee prior to offers. No one seemed to know. Now that we have an accepted offer we’ve found there is a lien on the house for the solar. That’s the only information we have until the trustee investigates.

We have not yet transferred our earnest money yet and are concerned about this solar possibly being $20k in assumed financial responsibility being that we agreed to buy “as is.”

Our agent thinks we still have a safety net in our loan contingency because a lender could argue that assuming the lien debt changes the deal and won’t fund us.

Are liens included in “as-is” properties?

What possible scenarios can occur from here?

Help!

submitted by /u/j1cjoli
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/evi6dm/found_a_solar_lien_on_an_asis_property_what/
Labels:

Comments

Post a Comment

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...
Post a Comment
Read more

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/
Post a Comment
Read more

Making offers on houses not listed for sale.

I want to buy a home for retirement. I am looking at lots of options, mostly focusing on the locations that appeal to me. I see lots of Zillow estimates of homes that look like great deals to me. Are these estimates accurate, even though similar houses in the same area that are for sale are usually priced much higher? If so, is it realistic for me to try to make offers to owners that do not have their homes listed? Would a realtor even consider helping me do this? Or, do these values indicate that the houses listed for sale are overpriced, and I should just lowball until someone accepts? Are houses today tending to sell far below list prices, or ??? submitted by /u/chewybrian [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1o4mcon/making_offers_on_houses_not_listed_for_sale/
Post a Comment
Read more