Liens from financed solar panels, long-term security contracts, costly swimming pools, and misunderstood water softeners can hinder your home sale.
Ever thought you were all set to sell your home, only to find unexpected hurdles at the closing table?
I recently had a client ready to close on their home sale. Everything seemed perfect until we discovered they owed $7,761 on a water softener system they thought was leased, not purchased. Imagine finding out about that kind of bill right when you're about to close.
These kinds of issues aren't as uncommon as you might think. There are four significant additions—I call them the Four S's—that can trip you up when selling your home:
- Solar Panels
- Security Systems
- Swimming Pools
- Water Softeners
You might have added these to improve your home, but they can complicate things when it's time to sell.
When you sign agreements for these systems, they often come with fine print that can create liens on your property. Title companies will find these liens, which must be paid off or transferred to the buyer before you can close.
Let me break it down for you:
- Solar panels: They're fantastic for energy savings, but if you're planning to move in the next few years, the financing agreements can become a headache.
- Security systems: Peace of mind is priceless, but long-term contracts might tie your hands when selling.
- Swimming pools: Great for summer fun, but they might not add as much value to your home as they cost to install.
- Water softeners: As my client learned, not understanding the purchase agreement can lead to unexpected debts.
So, what's the solution? Before you add these features—or if you already have—look closely at your agreements. Read the fine print. Ask yourself:
- Is this a lien on my property?
- Can this agreement be transferred to a new owner?
- What happens if I sell before it's paid off?
By understanding these details now, you can avoid surprises later.
If you're thinking, "This sounds complicated," don't worry—I'm here to help. I aim to help you have a smooth, successful closing without any unexpected bumps. At Shine Team Realtors, we can walk you through your options and make sure you're fully informed. Ready to sell your home without the stress? Contact us at (254) 690-4321 or Shine@ShineTeam.com. Let's make your home sale a shining success together.
