My partner and I closed on a house on 5/28. We did a 21 day close and everything went surprising smooth. Got the keys and couldn’t be more thrilled.
However, we are in a quandary about how to handle the solar PPA. The solar agreement is actually still in the previous owner’s name. We realized that the listing agent and/or the seller was responsible for making sure the solar agreement was transferred to us before we closed… but we never received anything. We spoke with our agent, escrow officer, and lender who all said this was the 100% responsibility of the seller and we are not obligated to do anything.
I have the seller’s contract and it seems reasonable (0.15/kWh) so I think we would still save money if we signed the agreement. The previous owner’s options are to 1) transfer the agreement to us 2) pre-pay all monthly payments 3) relocate the system to their new property 4) early purchase to the buy the system from the solar company.
What would you do in this situation? Negotiate with the company for a better rate? Negotiate a buyout? Tell the solar company to come and remove the panels? Or just sign the agreement and be done with it?