Facilitating a solar lease transfer can be a process. Locating the contract, initiating the transfer and finalizing the deal can be a daunting task that many home sellers and even inexperienced agents can become overwhelmed by. At the Eden Agency, our solar realtors help to educate homeowners about their solar system and execute the process as EXPERTS in Arizona real estate, which can be a major relief in an already stressful task- like moving. Our team of experienced agents has successfully aided our home sellers for the past decade in the home sale and transfer of their solar leases/contracts with peace of mind and the security of being in the hands of an agent they can trust!
Our Process: Facilitating A Lease Transfer In Arizona 101
1. The seller and the buyer of the solar home need to agree upon the lease transfer terms and sign off on the agreement to initiate the process.
(Having an agent who understands this first step is very important. For some agents, solar leases can be intimidating- knowing and understanding the terms of a solar lease and how to market it as a benefit to potential buyers is absolutely key to the successful sale of your home)
2. The solar lease transfer requires the buyer to meet minimum credit requirements in order to get approved to take over the lease. Once approved, the lease is transferred.
(It is extremely imperative to have an agent who stays on top and ahead of this transfer. A solar transfer is one of the top reasons a home can be held up from closing, which can ruin moving and finance plans for all parties)
3. After the solar home has closed, most solar leasing companies will require proof of ownership. There are multiple documents that will be efficient for proof, one of them being the title.
Only a qualified agent with a lot of solar experience will understand how important this step is so home sellers don't receive notices or even bills after the home is sold and the buyers were supposed to be responsible)
At The Eden Agency, we have years of experience buying and selling solar real estate while facilitating lease transfers. Leased solar panels come with many pros and even some cons. Solar leases can have contractual obligations that extend beyond 10 and 20 years. Therefore, working with a solar expert is necessary when buying a home with leased or owned solar panels. Understanding the contract terms, money commitment and potential energy savings is essential to deciding on the right home to purchase for your family.
1. The panels are not yours so someone else maintains and repairs them as needed.
2. Potential energy savings, putting money back into your family's pocket.
3. Reduce your carbon footprint.
1. When owned outright, you are not making lease payments and you can do what you want with them.
2. Potentially saving even more $$$, allowing you to put money towards home updates or other monthly expenses.
The Eden Agency Real Estate
3810 South Estrella Parkway, Goodyear, Arizona 85338, United States
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