Solar Panels

lien

They are telling me that even if I pay cash in full up front, they still want to put a lien on my house. Basically I get a solar setup, they get 20k plus they get my house (many times 20k).
Did they tell you the same thing? Is it normal?
Other solar companies only do that if you do a loan. Lets say I pain in full in Dec 2020, they still want to keep their lien on my house until dec 2021. They want to own my house a year after i paid them in full.
Then if they make a mistake then I loose my home.

Comments

  • When a homeowner engages a contractor to do significant, long-term and costly work on a residence, it's not uncommon for them to pull a lien on the property to protect themselves until the project is completed and paid for. Their insurance might even *require* it.

    One year is probably the default time period, and insures that everything will be completed by then.

    The lien is for the value of the project, not the value of your home. They do NOT "want to own your house". No "mistake" you can make will cause you to "loose (sic) your home".

    No need to be overly dramatic.
  • That's not how liens work. If it comes to it and they sue you to get the payment by forcing a sell of your house in court, they only get the lien amount. The rest will go to you or your mortgage lender.
  • > @Ibnfawzi said:
    > That's not how liens work. If it comes to it and they sue you to get the payment by forcing a sell of your house in court, they only get the lien amount. The rest will go to you or your mortgage lender.
    Selling my house is a loss already. That is the problem. I want to keep this house, not another house. It was a good deal when I bought it, I would have to pay $100k more for a similar house. I dont have a lender. Plus home selling cost about $40k would be forced on me too. So dont pretend that a forced sale is not a loss of additional (3x-6x) value.
    The other issue is the cubicle dwellers at Tesla made several mistakes with paperwork so far, so even after I pay in full in cash, they may still send my non existent debt to a collection company by mistake, then it would cost me tens of thousands. These people cannot be allowed play with expensive toys like a lien. I can pay over the phone today, if they allowed me to do so, that means a lien is not necessary. A lien is a payment demand. After paying in full, they still insist in retaining their payment demand. Or retaining their chance to screw up again and and cost me a lot.
  • "I can pay over the phone today, if they allowed me to do so, that means a lien is not necessary."

    Your paying in full in advance would be extremely foolish of you, which is why they wouldn't expect you to do so. The lien is to protect them for the duration of the project, for which they've expended a great deal of uncompensated resources in advance. It's common for contractors of all types to do so. You choose to ignore this fact that has been explained to you previously, in favor of continuing to complain about it.

    "...so even after I pay in full in cash, they may still send my non existent debt to a collection company by mistake, then it would cost me tens of thousands."

    They may also cause begonias to sprout out of your posterior, which would cause you to hire a surgeon to remove them, for tens of thousands of dollars.

    It's beginning to sound to me that you simply like to complain, and even if you don't have something legit to complain about, you make up "what-ifs" to complain about instead. You're getting tiresome.
  • Hmm, I made a comment with an applicable reference in support of OP and it is no longer present.
    I also called out other replies that insulted OP for no useful reason.
  • @Enery User at Home - Are you sure you actually posted it? If you only click on "Next" and don't bother to confirm, the post is never posted. It's exceptionally rare to see a post be deleted by the administrators unless it's spam. Even then it usually takes days.
  • > @"TeslaTap.com" said:
    > @Enery User at Home - Are you sure you actually posted it? If you only click on "Next" and don't bother to confirm, the post is never posted. It's exceptionally rare to see a post be deleted by the administrators unless it's spam. Even then it usually takes days.

    Yeah, might be user error. Loose nut between keyboard and chair.
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