July may have you thinking of bright sunny days and vacations spent soaking up those rays outdoors. Since the sun is on your mind, our newest addition to the OREF form library is the perfect choice for Form of the Month.
OREF 105 Solar Panel System Advisory and Addendum is a valuable notice to the Buyer when the Seller has a Solar Panel System installed on their for-sale property.
Many Solar Panel Systems are subject to an agreement with a third party, such as the system being leased, a license or easement being given to the third party, or a financing agreement being in place that governs the Solar Panel System sale.
Since it may not be possible to purchase a property without becoming subject to one of these arrangements, Buyers should read any agreement that the Seller is a party to and determine whether the agreement is acceptable. Otherwise, Buyers may lose their earnest money if they do not comply with the terms of this Addendum.
The OREF 105 form is available in the OREF library through licensed transaction management platform providers.
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