Q: Purchased a home 5/23 Listing stated "owned solar" never disclosed that solar was actually leased. Found out after close
Solar company emailing me daily to do credit check to transfer lease, I specifically bought home because of paid solar. Title Co. said other realtor admitted to knowing it was leased after home closed but not disclosed? not sure which way to go now>
A:
In California, the misrepresentation of a home's features, such as stating that a solar panel system is owned when it is actually leased, can be a serious issue. The seller and their agent have a duty to disclose material facts about the property, including the status of solar panel ownership, as this significantly impacts the property's value and the buyer's obligations. If the seller's agent knew the solar panels were leased and failed to disclose this before closing, you may have grounds for legal action based on misrepresentation or failure to disclose.
The first step should be to contact a real estate attorney to review the specifics of your case, including the listing agreement, disclosures, and any communication with the seller or their agent regarding the solar panels. An attorney can advise you on the best course of action, which may include seeking rescission of the purchase contract, compensation for the difference in value between owned and leased solar panels, or other damages resulting from the misrepresentation.
Additionally, you might consider contacting the California Department of Real Estate or a local real estate board to file a complaint against the real estate agent for failing to disclose material information. This situation underscores the importance of thorough due diligence and the right to accurate and complete information when purchasing a home.
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