July 2022 Form of the Month: OREF 105 – Solar Panel System Advisory & Addendum
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.
Please feel free to contact us at firstname.lastname@example.org if you have any questions.
Disclaimer: On occasion OREF staff, Managers, or Forms Committee volunteers may provide Forms subscribers with general information and education regarding the proper selection and use of OREF Forms. Neither OREF nor its staff, Managers or volunteers are attorneys or are authorized to practice law, and no information or educational materials provided by them are intended to constitute legal, tax, accounting or other professional advice of any kind. All such information and materials are non-legal opinions offered for general educational purposes, and each Forms subscriber must rely solely upon his or her principal broker or personal legal counsel for specific advice and instruction. Brokers and their clients should independently confirm that the Form(s) being used are legally suitable for the purposes intended, and that they are current with respect to all laws and regulations.