I just read the article on WatchDog warning consumers that SolarCity can put a lien on peoples property in the guise of "SolarCity has the right to file any
UCC-1 financing statement or fixture filing". This was not explained to be by the seller or SolarCity. I am horrified that there is a 20 year contract on the home I am currently in "contingent" status on a purchase. I originally signed the house offer stating that the lease would be transferred to me based off the sellers sales points that is was a great deal.
As a prospective buyer do I have any recourse to not sign the SolarCity contract and get out of that part of the home offer? After I had signed, SolarCity asked for a credit check that I find odd.
In their contract, the homeowners
have no rights.
For example, I hired a home inspector to check for EMF radiation and she found high levels of dirty electricity coming from the solar panel which is consistent with in with single inverter solar panel systems. SolarCity said they will not shield it to protect the homeowner nor is a third party aloud to do any installations of shielding. I am waiting for further clarification from SolarCity.
So as the homeowner, if I purchase this house and sign the SolarCity contract I will have no exit clause or rights. If I want to put in skylights for example to let in more light where the panel currently is, I cannot. If i want to get a home equity
loan to improve the property I may be declined because of their lien.
I would like to buy the home, but break the SolarCity contract for the home or not take on the contract (leave that to the seller). Do I have any rights to fight this? I have invested a good amount in inspections but if buying the house means I have to be held hostage to SolarCity, I will have to try to back out of the purchase of the home which would be at a loss for both myself and the seller.
Thank you and I look forward to hearing from you shortly.