Current Owner in Short Sale Demands New Buyer Take Over Solar Panel Lease

[InEscrow]

My question involves real estate located in the State of: California

We are in escrow on a short sale set to close in 17 days.

The current owner is 3 years into a 15 year solar panel lease and wants us to take over her lease. Having reviewed the lease agreement it is not financially advantageous for us as it costs much more than regular electric. This lease is not part of our purchase agreement but the seller wants to force us to take it over and we're not interested. Is the seller able to back out of the sale as a result?

[jk]

what does your sales contract say to the matter?

actually, what does the contract say to the solar panels at all?. One would think something like would have been mentioned in some fashion.

but basically, from what you have stated, not accepting the panel lease is not legal justification to terminate the sale but that doesn't mean she won't do it anyway.

[InEscrow]

It's not mentioned in the contract at all. Can the seller legally get out of selling the house to us if we don't take over the lease?

it's a HAFA short sale through BofA and was submitted as an ARASS.

Would the accepted short sale prevent her from walking away? She stands to make $3k through the HAFA program if she does the short sale.

(We have a dual agent and he's not helpful but motivated by the double commission)

Thanks!

[jk]

Would the accepted short sale prevent her from walking away?

not at all. The title is still in her name so if she refuses to release her interest in the property, she could kill the sale.

The problem here is: do you "purchase" the lease along with the house or not. Generally, a contract can be transferred but it is not automatically so. It must be agreed upon by both parties. That means you do not have to accept the lease and as such the leased equipment if you do not choose to do so (at least based on the info you have given)

Whether you move forward or not is really up to the seller at this point. Considering the situation, I would look to what damages you can seek from her should she kill the deal and let her know you intend on seeking damages from her should she kill the deal.