Facilitating a solar lease transfer can be a process, finding the contract, initiating the transfer, and finalizing the deal. Trying to time the transfer so that it’s done by the time the deal closes can be tricky. In the example referenced in the video, we were dealing with sun power who is notorious for processing things slowly. Getting a jump on the transfer and facilitating it for the seller allows for the process to go smoothly without any hangups. Leased solar panels come with many pros and cons. The pros are obvious, the panels are not yours so someone else maintains and repairs them as needed. When owned outright, you are not making lease payments and you can do what you want with them. That’s always nice. Lease transfers can really hold up the process, especially if your realtor isn’t an experienced solar broker with a history of managing and transferring solar leases. At Solar Home Specialists in Arizona, we have years of experience buying and selling solar real estate while facilitating lease transfers. Most realtors in Arizona have knowledge about buying and selling homes, but once you add a solar lease transfer into the picture they really don’t know how to navigate the complexity of the lease. We are called upon often by other realtors to step in and help them facilitate the lease transfer, believe it or not, many realtors have never dealt with transferring a solar lease for a client that is buying a solar home in Arizona.
Solar leases can have contractual obligations that extend beyond 10 and 20 years. That can get expensive if the system is large. Other obstacles that many realtors are unaware of are escalated solar leases. Again, without knowledge of the solar industry and how these leases work, many realtors here in Arizona will call upon as solar consultants to help them with the sale or purchase of the solar home. These opportunities are unique and often times when the homeowner that purchased the property is ready to sell, they call upon us to act as their realtor because of the buying experience they had when they purchased the home.
The home selling process can cause enough tension in your life, having to worry about your solar lease while buying or selling a home shouldn’t be your problem. By educating homeowners about solar and walking them through the process as industry experts, we see the relief on their faces as they listen intently to us share knowledge and empower them for their purchase. When we are brought in as solar consultants to help facilitate a lease transfer, we can also see the sense of relief fall upon the faces of the selling agent who had no idea how to facilitate the transfer of the lease. With an expert solar leasing specialist acting as your realtor you can feel confident that the home you are buying, or the home you are selling is valued properly and the lease transfer is a smooth and efficient transaction.
Buying a home with solar panels installed will give you all the perks of going solar without dealing with the undesirable hassles of the installation process.
Facilitating a solar lease transfer in Arizona can be a time-consuming process and a lot of it has to do with the leasing company you are working with. Like it was mentioned above and in the video, there are some vendors that are notorious for moving slow, when this is the case the transfer needs to be initiated ASAP to ensure the process completes by the time the new homeowner is handed the house keys. Our team at Solar Leasing Specialists have years of experience in facilitating solar lease transfers for buyers and sellers of solar homes in Arizona.
How To Facilitate A Lease Transfer In Arizona.
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.
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.
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.
Solar homeowners in Arizona that are selling homes with solar panels already installed on their rooftops are familiar with the solar system and how it works. If you are not yet familiar with how a residential solar system in Arizona is designed to operate you can read more about converting your home to solar and what you can expect from the leased equipment. Once a solar homeowner sells a home and moves into their new place, they begin to notice the energy bills seem higher than what they were used to. Our team of experienced solar realtors can help you find a new solar plan to facilitate your energy needs.