Clsing house in 10 days, found out solar panels are under lease

 In RealEstate

I need help, the closing date will be less than 10 days. We have problem with seller regarding to the solar panel.

Questions: What should I do? Should I just back off from the contract? I already spent more than 1k for appraisal and inspection. Or should I leave the contract open? Or should I sue the seller for a fraud and ask the seller to compensate our aid out due to this ordeal?

Short summary: We just found out couple days ago that the solar panel are leased not owned with 31k left on their loan. On the disclosure the seller mentioned the solar panel is OWNED (this is not a contract; it’s a seller’s disclosure notice).

The seller is pushing my agent to transfer the solar without telling us that it is on lease. We call the solar panel company and found out it’s on lease.

The seller is not easy to deal with, I’m not sure the seller will agree to paid off the lease on the closing date.

Also, we did not check the fixture lease under 4. LEASES on the contract as we did not know. This line is showing that seller may not create a new lease in the property (including solar panel). The seller did sign and accept our offer without asking us to update.

Update: I just got the solar panel contract, total ampunt finance is 33k and the balance now is 31k left. They installed this in 2021. My agent told me she checked with the solar company the loan is tied to the buyer not the property, she told me it should not be a problem to close the house legally. The problem is if the seller would not sign the paperwork.

submitted by /u/urchinchillax168
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