08/02/2021
Selling A Home With Solar Panels?
Solar is an investment in your home that offers HUGE long term bonuses, such as lower electricity bills, protection against rising energy costs and it even lessens dependence on fossil fuels!
If you opt to sell your home and it has solar panels, here's what you should know:
Leased Panels:
Buying out the remainder of your lease allows you to own your system before you sell your home. Doing this enables you to sell the system as part of the home and potentially net more from the sale. Check your lease! You may be able to purchase the panels outright after just 5 years.
If buying out the lease isn't an option, you should be able to transfer the lease to the new homeowner at closing.
One thing to keep in mind: If the panels are leased at the point of sale, they won't contribute to the appraised value, as they're not considered part of the "real property."
Impact On Resale Value:
Homes with solar panels sell an average of 4% + MORE than similar homes without solar across in the U.S.! A study done by Berkeley Lab, also found that homes with solar panels tend to sell faster than those without!
PRO TIP:
It's helpful when selling a home with solar panels to provide buyers with a copy of your lease terms as well as a breakdown of the monthly savings.
If you have additional questions about selling a home with solar panels contact me today! I'd be glad to answer your questions so you're set up for a successful sale!
