What Happens to My Solar Installation If I Move?
When it comes to selling your home, having a solar system is advantageous. According to studies, properties with solar power systems sell at a significantly higher price than those without.
In fact, selling a house with installed photovoltaic arrays is the clearest and smoothest scenario. As a homeowner, you can simply add the installation expenses to the original house price. The potential buyer, on the other hand, only needs to settle the price and they will immediately save money on utility bills.
Nonetheless, any action that involves documentation and a credit obligation involves close scrutiny. This is why we created a brief guide to transferring a solar contract.
Is solar panel ownership transferable?
We’ve transferred hundreds of solar service contracts. Furthermore, our specialists are familiar with the specifics of your service contract and can manage the handover on your request.
We’ll handle anything from informing realtors and possible buyers to communicating with title officials, home inspectors, and anybody else who would need to know about your solar service contract once you let prospective buyers know upfront about the transfer.
Once you’ve closed the deal, you’ll both sign the service transfer form, and we’ll do a quick credit check on the new homeowner. After the credit has been verified, all you have to do is provide us proof that escrow has been completed and everything will be done immediately.
What about the warranties I still have on the solar installation?
Some solar panel warranties can be transferred from a home seller to a buyer. Nonetheless, some vendors limit warranties to the initial property owners. We can assist you in clarifying issues before signing a contract, which may affect the house selling process.
What if the buyer isn’t interested in transferring the solar contract?
If the buyer declines to switch to sustainable residential solar energy, you can prepay for the duration of your contract and include it in the selling value of the home.
You can also consider buying your solar panels and carrying them to your new home. However, transferring the arrangement to the new household is often easier and less expensive.