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jm4466

Junior Member
Found a home here in Nevada I wanted to purchase. Seller's realtor told my realtor that I would have to assume current Solar Agreement. I was informed by my loan officer that the VA would not allow this. I signed RPA which stated that EMD had to be deposited within 24 hours. My realtor called and asked their realtor if she could provide the Solar Agreement. She said that she didn't want to bother her clients as they were going out to dinner. My realtor stated that her buyer (me) really wanted to review the agreement before depositing the EMD. The seller's agent replied by saying "oh don't worry about the EMD, there's no rush". We have texts and emails to confirm this.

Repeatedly the Solar request was not provided. Last Friday at 4 PM, I received escrow instructions for the EMD. I was at work with no time to get to a bank.

On Friday night my realtor received a Cancellation Notice for Breach due to no EMD. When the TC wrote the buyer's realtor inquiring what was going on, there was no response. Emails and calls to the Sellers realtor's office went unanswered. So my Broker got involved and contacted their Broker. He (their Broker) sent out a group email instructing his agent to "hold off" on cancelling escrow and telling my agent to get the EMD in immediately.

So back to the bank I went. When I got there I called escrow. They told me that my Escrow had been cancelled and they had not been notified of any changes by the Seller's agent. (the person who had originally opened escrow) My TC spoke with the escrow representative, called me and said to proceed with the $7000 deposit.

All day yesterday and today, surprise no communications and still no Solar Agreement. A few hours ago my agent called me to say that the home I signed a RPA on was under contract to another buyer who was being represented by an agent within the same company as the seller's agent!

So why were we told to deposit the EMD when they obviously knew they were not going to honor our agreement? I understand that the EMD was to be paid within 24 hours and was not. However it would have been dumb to deposit the money only to find out there was no way to resolve the Solar issue. Also understand that the seller's realtor assured us several times that there was no urgency for the EMD.

Isn't it pretty simple to provide that. I could do it within 10 minutes if requested. I want to pursue legal representation but would like to get some educated advise from this forum first. Thank you for your time.

PS Home went on the MLS on March 10, 2022. I had fully executed contract on March 15, 2022. It went back as ACTIVE on March 16, 2022.
This means that while I was under contract they opened another escrow.
 
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STEPHAN

Senior Member
If your contract states that you have to deposit the EMD and you did not, that had the right to cancel. Usually, solar contracts, etc. would be inspected in the inspection period if you had one in the contract.

Without the contract, it is hard to help you. Analyzing the contract is beyond the scope of this forum. If the property is under contract now, I would no longer bother with it, unless their contract falls through. That is part of buying a property.
 

jm4466

Junior Member
If your contract states that you have to deposit the EMD and you did not, that had the right to cancel. Usually, solar contracts, etc. would be inspected in the inspection period if you had one in the contract.

Without the contract, it is hard to help you. Analyzing the contract is beyond the scope of this forum. If the property is under contract now, I would no longer bother with it, unless their contract falls through. That is part of buying a property.
 

jm4466

Junior Member
The home is 5 years old. Solar has been there for 3 years with 22 more to go. I needed to find out if they applied the $11000 tax credit or simply kept them.
 

adjusterjack

Senior Member
Let it go. You dodged a bullet.

The solar agreement may have been the remainder of a 20 year lease with no option to buy. At the end of the lease they remove the equipment and promise to restore the roof and any other places where the equipment did damage. Yeah, right.

That they wouldn't show you the agreement is telling.

If you want solar, buy a house where the seller owns the panels and equipment.

Be careful when buying a house. Don't trust anything the realtors tell you without verifying it. Realtors can be such scammers and buyer agent is a myth.
 

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