Flipping a house with existing solar panels.

[Dominic Locicero]

I am currently looking at a property that has solar panels on the roof. When purchasing a house with solar panels do I own the panels. Do I have to find out who the previous home owner was leasing the panels off of? Would it be a problem if I just take them off completely?

[Chad McMahan]

Quote from @Dominic Locicero:

I am currently looking at a property that has solar panels on the roof. When purchasing a house with solar panels do I own the panels. Do I have to find out who the previous home owner was leasing the panels off of? Would it be a problem if I just take them off completely?

Hi Dominic.
Solar can be tricky- and of course can be quite beneficial. Or not worth it, depending on the situation. For me, I weigh likely electrical cost with and without solar and of course consider solar cost, divided by time and compare the math. Solar panels are typically built with a 30 year life, but can work well for longer- lots of variables.

If it's owned, it can be free and clear, or on a monthly payment program- which you are obligated to.
If it's leased, same thing. It can be a lease that is fully paid for a period of time (30 yrs, for example), or leased and paid monthly.
If it's leased, the solar company is responsible for any repairs/maintenance. 
If it's owned, there can be various benefits, as well.

I typically get solar and still connect to grid, so I don't need to bother with solar batteries, and the power I produce gets rolled into the grid and I get power credit from the electrical company. I do NOT make out like a bandit. But, I do tend to save money with this approach. I save even more money with my STR's, as STR tenants are notorious for running the A/C, lights, etc, way more than they should.

If the solar is owned free and clear, you can take off the panels- but this would be quite a waste of the value/benefit.

If they are owned and on a payment plan, or leased in any capacity, you need to chat with the solar company and see if they can be removed- but it's likely they will say "No". In these situations, if you buy, the purchase is contingent upon you assuming the solar agreement.