Victoria is in Hawaii hi Victoria welcome to the Dave Ramsey show hello thank you for taking my call sure what's up so my husband and I are in a solar con solar lease contract and we're having some issues because the trying to sell our house we've had seven authors back that we've come out of escrow twice for house because of the solar contract we were told before we find the contracts that if we were to sell our house when the new buyers would be able to renegotiate their contract and if they didn't want to then
the company was a loser panel or we could take the panel's with us to wherever we're meeting likes or we could buy the panel's out those are our three options while we're both active to you know to me and moving to Texas in July okay so they told you all of those things is any of that not in the actual contract no it's not okay so it didn't only what does the contract actually say you just owe a mossad amount of money right yeah the option trailer contract was a ballooning payment over the next 20
years or exception and we're sort of fell off a little bit higher but not changed my payoff amount has to pay them off so the their early buyout option isn't an option until six years into your contract the option that they're giving us right now so buyout is $70,000 the system itself if you were to get by one outright brand-new it's only $25,000 so you did a release you say you did a lease honest yes we don't know jeez okay miss the option that they're giving us about right now is what the contract is worth
for the investors which is about seventy eight thousand dollars okay just can can you not pay it off as a part of the sale of the house no we cannot do that at seventy eight thousand dollars and we won't be making that much money on the house how much will you be making on the house you're looking at about $40,000 profit yeah with the solar panels on the house if we can get somebody to take their current content no no no no no no no no no I'm just saying if you leave the solar panels
on the house the house is only worth enough to put $40,000 in your pocket that is correct and that's with paying the solar company nothing correct okay you need a lawyer you need a lawyer and you know you're probably gonna give your $40,000 of equity to the solar company to settle the contract and leave the solar panels on the house and walk away you lost your equity when you did this deal okay now if you can get them to take 40,000 to settle on the 78 today my god you must have covered the whole house
and solar panels we did in Hawaii we were paying $600 a month and our electricity with yeah it's still a really really bad idea to do this I mean the only time solar panels work is if you pay cash for them and they do work if you pay cash for them but never ever finance them and triple never lease them because of this exact situation right here yeah and never believe anything is is a part of the deal if it's not in the contract yeah we've got an old attorney friend of mine that says if
it's not in the contrary if it's not in writing it didn't happen and that's what you're discovering here that you had a slime ball at your kitchen table telling you is what the deal was one thing when it wasn't it was something else and we know he's a slimeball cause he lied that's the point you have very clear you know belief of this I mean if you have any of the old sales materials that indicate that the contract should say that your attorney could use that as a part of the negotiating process and go we're
getting ready sue you because you're just a bunch of slimy people my god $78,000 where the solar panels you wouldn't break even on that oh that's awful that's really awful Hey we we believe in solar around here there are certain areas of the country that it breaks even but if you need a break even on those things and you know four or five years you don't need a 15-year break even on solar panels it then you don't die you don't buy anything that does that meaning you save enough on electricity to pay to give you
the cash that you paid for the solar panel back within five years and if you don't do that you don't need to do the deal they're not efficient enough in the area that you're in with your particular situation with the cost electricity in your situation to do that and then you don't get caught up in what Victoria's in Victoria gets you a lawyer
