When you're trying to make your offer as attractive as possible, skipping the solar inspection may seem like a clever idea. Here's why it's not.
If you’re buying a home in a competitive market and your offers keep getting beat out, you may be tempted to resort to desperate measures. In addition to offering more than the asking price or a quick closing, some buyers agree to waive inspections.
This is never a promising idea. The solar system may look OK to the naked eye, but it’s what’s beyond the surface, or items that you can’t identify as problematic, that cause problems.
For example, the typical buyer won’t be able to tell if the system is producing what it should be. This can only be done with specific instruments and performance tables, nor will they see loose connections, burn marks or wiring errors that could reduce performance or cause fires.
No matter how badly you want the property or how emotionally attached you are to it, you don’t want to buy a home that has solar without having it thoroughly inspected. Just imagine six months down the road, when you’ve closed on the sale and moved into your new home. You will kick yourself when you get your high summer air conditioning bill, you thought the solar system was working and now you have the added expense of getting the solar system running when you could have possibly had a new system put in and included in it your mortgage payment and recieved a 30% FEDERAL INCOME TAX CREDIT!
When you’re in the thick of a bidding war or in your seventh month of searching for homes, you might not be able to see or think clearly. Don’t get caught up in the hoopla. Waiving a solar inspection can cost you a fortune. Here are some ways to satisfy the need to inspect, while remaining competitive.
If you love the home, inspect the solar system before you make an offer or sign a contract. Worst case scenario, you spend a few hundred dollars delving deeply into a home you don’t purchase. Better to be safe than sorry.
If you do inspect the solar system and it passes, then you can waive your inspection contingency because you’ve inspected already.
The seller’s inspection
Often, the seller will have the property inspected before listing. They do this so that they can either iron out any issues in advance of listing, or so buyers know upfront exactly what they’re getting. It protects the sellers from future negotiations and allows them to price the property correctly from the start.
The only issue is that the inspector is liable only to the person who paid for and ordered the inspection. That is the seller. If that inspector missed something, you don’t have any recourse.
You’re purchasing the biggest asset of your life and with solar, you may be savings thousands of dollars a year for the rest of your life. We are here to help. To schedule your inspection call……