Joel DyckReal Broker SK Ltd.
Saskatoon · From the topic map

I have leased solar panels on my Saskatoon roof. Does that hurt my sale, and do I have to pay the lease off?

A leased solar system usually does hurt a sale, because it attaches a monthly payment obligation to the house rather than a paid-for asset, and some lenders are reluctant to finance a home with an assumed lease still attached. You do not automatically have to pay it off, but you do need a plan for it before an offer arrives.

The Saskatchewan REALTORS Association's area lenders generally treat an active lease as a financing condition either way, so the three usual paths are paying it out before you list, transferring it to the buyer with the leasing company's approval, or negotiating the payout into the sale price instead of paying cash up front.

Paying it out before listing is the cleanest option and lets the home sell as a straightforward owned-solar property, but it needs the payout amount available in advance, on top of the legal fees of $800 to $1,500 every Saskatchewan closing already carries. Transferring the lease needs the leasing company's sign-off and a buyer willing to take it on, which can narrow your buyer pool.

Which route makes sense depends on your specific lease terms and how much runway you have before you need to sell. Get your hand-reviewed valuation from Joel Dyck.

Get your hand-reviewed valuation from Joel Dyck.

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