Reply With QuoteCan't answer your specific qu - but I would also consider discussing with mortgage companies (assuming you need a mortgage).
My colleague can't remortgage his house due to issues over ownership of solar panels on his roof.
A potentially interesting house has solar panels, and the following comment on the Rightmove listing. Any idea what it might mean (just in general terms)?
"AGENTS NOTE: The property has solar panels which were installed in 2012 on a 20-year contract with a company called Samil Power UK however the company went out of business in 2017 and dissolved in 2018."
Could this be a contract where the panels were installed 'free', and a proportion of the FIT went to the power company? Is it possible there is any ongoing liability for the home owner?
Do the inverters have a 10 year life span, and in this case be due for replacement?
Can't answer your specific qu - but I would also consider discussing with mortgage companies (assuming you need a mortgage).
My colleague can't remortgage his house due to issues over ownership of solar panels on his roof.
Comments like that really frustrate me on property listings especially as I always assume its a negative and they are telling me the bare minimum they are legally obliged to raise Just tell me what it means! If you (estate agent) don't know, find out. Surely its better for all parties involved because if I can't remortgage due to concerns over ownership of solar panels it better to save all parties time.
Can’t answer the first question, but a friend of mine reported an inverter failure at thirty eight months old.Out of warranty so he got the bill to repl@ce.
The Energy Company is showing as dissolved at Companies House.
First thing I would do is ask for a copy of the contract as it may have clauses in it in the event of insolvency.
Theoretically a dissolved company can be restored by the directors and contracts can still be valid again but given their creditors wound them up in 2018 and if they did restore the company the company would still have the debt as well as the contracts that you could owe them for (assuming this is why its flagged) I would say the risk of all this happening is neglible (or you could insist on the vendor taking insurance against this risk which would presumably be cheap).
But see what the obligation to the dissolved company was first.
I have a friend who’s sister has this system (also currently broken) The sister has since passed away and there is outstanding finance on the solar set up
The property is in trust for the sisters young children so my friend is trying to ‘write off the debt’ as the estate has no funds
My point is make sure the system as not installed with finance
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