Leasing Solar Panels Selling House

It may make selling your home more difficult.

Leasing solar panels selling house.

One homeowner with leased solar panels reported that he had to lower the selling price of his home three times to get buyers interested. That could cost 500 for an initial audit and another 500 to transfer the panels if the leasing company. Breaking your lease with a solar panel company will usually result in you being charged the full bill for the 15 years of usage the homeowner agreed to. Some companies also offer power purchase agreements or ppas.

By paying the rest of your lease you can either have the panels removed from your. Selling your house with a solar lease or ppa buy out the remainder of the lease. A solar lease is a financing option for residential solar panels where the homeowner leases panels from a solar company. Selling a house with owned solar panels is more straightforward than selling a home with leased panels.

Follow this game plan decide whether to transfer or buy out your solar lease. A variation is to have you make lease payments directly to the solar company. In 2014 72 of solar users leased their panels but that shifted in late 2016 to just 47. All three options work until you go to sell the house.

Owning your panels makes it a lot easier to sell the house because you don t have to worry about any liens against the property. But in reality selling a house with leased solar panels adds an extra layer of complexity. If the new owner is willing to take over the lease and meets the. Let them convey with the home or remove them and take them with you.

Solar companies who focus on lease options like solar city and sunrun claim that they make it easy to transfer lease payments when selling a house with leased solar panels. According to one large solar leasing company. Buy your lease out. If you bought the panels outright you don t have a problem.

When selling a home with leased solar panels you must either. Whether you choose to buy out or transfer your solar panels. Problems with leasing solar panels. While leasing a solar panel system may seem like a great idea it can create an awkward situation when you decide to sell your home.

If you sell your home before the end of the lease you can transfer the lease to the new owners if they qualify with excellent credit or you can prepay the lease and add it to your home asking price qualifying means a 700 or higher fico score. Potential buyers were scared of the solar lease said his real estate agent. Some solar leasing companies may offer to relocate their systems from one house to another. Hire a top real estate agent to sell the benefits of solar.

Transfer the lease to the new property owner.