How a Solar Panel Snafu Almost Derailed Our Client's First Investment Property

When Ed and Nathaly embarked on their journey to purchase their first investment property in Torrington, Connecticut, they never imagined that solar panels would become the obstacle standing between them and their real estate dreams.

The Perfect Property Comes with a Catch

After months of searching, we found a two-family home that matched their rental property criteria perfectly. The property had everything they wanted - plus solar panels. While solar panels are typically easy to handle, in this case, they nearly cost Ed and Nathaly their investment opportunity.

When Timing Is Everything

The critical mistake occurred when the sellers delayed requesting the transfer of the solar lease. This seemingly simple administrative task usually happens shortly after inspection, but the sellers waited until a week before closing. By then, the solar company had filed for bankruptcy.

The timing couldn't have been worse. Every other milestone have been achieved. The lease transfer was the only task remaining to get mortgage commitment and close the sale. Had the paperwork been filed earlier, the transfer likely would have been completed before the bankruptcy filing. Instead, we filed extensions for the mortgage commitment and closing as everything became tied up in bankruptcy court.

Lessons Learned the Hard Way

This experience transformed how I guide clients through their real estate journey. Here are the key takeaways:

• Always get written confirmation when critical paperwork is submitted

• Research solar companies' financial stability before proceeding with transactions

• Understand which contract dates are flexible and which are firm

• Have a backup plan ready when delays occur

Managing the Timeline

In Connecticut real estate, timing is crucial. While closing dates can flex a week or two, other deadlines are typically set in stone:

• Deposit delivery

• Inspection period

• Mortgage commitment dates

As your agent, I manage these critical dates and keep you informed every step of the way. When unexpected issues arise - from weather delays to family emergencies - I handle the necessary extensions and adjustments.

The Silver Lining

Despite facing higher interest rates and a delayed timeline, Ed and Nathaly ultimately secured their investment property. Their persistence, combined with our experienced real estate team's guidance, helped navigate through the bankruptcy complications.

Dream to Doorstep helped them establish a framework early in the process to make informed decisions about staying with the deal while exploring alternatives. Though winter was approaching and finding tenants would be challenging, they acquired an asset that would serve their long-term investment goals.

Remember: Real estate transactions rarely follow a perfect path. What matters is having an experienced team that can guide you through the unexpected turns while keeping your best interests at heart.

"I make it easy and safe for you, so you don't have to stress about events or dates that are unclear. We lay out the path and provide the information you need to move from where you are today to your dream house."