NJ Investment Prop : Advice required for solar panel and EOL Roof

[Abhay Dhingra]

Hi All,

Hope everyone is having a good time with family over the thanksgiving weekend.

I'm currently under contract for an investment property with EOL (End of Life) roof and has an existing solar panel on lease for next 25 years. Solar panels were installed 3 years ago. I was told by agent that usually solar panel roofs have a good life on them but inspection revealed its at end of life based on number of years. Did anyone had a similar situation and what is the suggested best next action ? 

Property is 1960 construction and in addition to EOL roof,  HVAC is also almost end of life. I'm thinking to go re-negotiate sale price and ask for further reduction ~ $ 20K. 

Also check with solar company what is the cost associated if they have to come down and remove the panels and then put them back after roof is fixed. Home is otherwise in decent condition.

Welcome any follow up questions or suggestions from fellow BP members.

Thank you

Abhay