Installing solar panels is probably one of the best improvements you can make to your home. Unfortunately, they are also quite expensive and can cost anything from $10,000 upward. However, if you’d like to reap the benefits of solar but can’t afford it, you’re in luck! You can also lease solar panels at a fraction of the cost. But what happens when you want to move out? If you’re wondering how to sell your home with a leased solar system, keep reading.
How to Pitch the Sale?
Contrary to popular belief, selling a home with a leased solar system is not difficult. As I’ve mentioned, solar offers plenty of benefits that add value to your property. For starters, your electricity bills will go down (or become a thing of the past altogether). You will also become eligible for certain tax incentives, and you can even feed excess power back into the grid and get paid for it.
All of those things could make your property look more attractive to potential buyers, despite the solar lease. Still, it might be an issue for some buyers, so let’s explore all answers to the question: How to sell your home with a leased solar system?
Transfer the Lease to the Buyers
In the best-case scenario, your potential home buyers will see things your way and recognize the benefits of solar. If that’s the case, you can sell your property along with the lease for your solar system (provided the buyers are eligible). This is easier than convincing someone to buy your property and the panels, so it’s probably your best bet.
As for the process of transferring the lease, there’s no need to be worried. It’s actually pretty simple; you just need to provide the potential buyers with your panels’ specs and then put them in touch with the installer. They’ll handle it from there — the panels will still be the property of the company, and the buyers will be paying the lease from now on. However, it’s worth noting that there might be a lease transfer fee depending on your provider.
Buy the Lease and Sell Your House Along with the Panels
Your second option is to buy out the lease and sell your home along with the panels. This can be a bit tricky since the higher price of your property can make it appear less attractive to potential buyers. Still, it’s not impossible!
The buyers might be apprehensive at first, which is understandable. After all, solar is a huge investment — but one that pays off. So, make sure you tell them that! If you’re unsure how to pitch your sale, think of the reasons you’ve decided to get solar in the first place.
For example, you can let them know how little you’re paying in bills compared to what you used to pay. You can even do the math and calculate exactly how much you’ve saved over the years in bills alone. Add feeding power back into the grid and tax incentives to the equation, and you can paint quite a pretty picture.
Hopefully, that answers the question: How to sell your home with a leased solar system? Selling your house is already difficult enough, and a solar system certainly complicates things. However, you will find the right buyers eventually. Just think of what made you go solar in the first place, and share that with the potential buyers. More and more people are looking to go solar each day, so having a solar panel system is certainly an advantage.