Solar panels are something many buyers are looking for and appraisers make note of when assessing your property, but can add a bit of complexity in the sale of the house depending on local ordinances and whether they panels are owned or leased. Make sure to have your agent mention solar panels in your listing and discuss them in your negotiations with potential buyers. Generally, a house with a solar panel lease can be sold or bought in the following ways:
- the seller pays off the solar panel lease and then sells the house
- the remaining lease amount is included in the payout figure for the house, or
- the seller transfers the solar panel lease to the new owners.
Buyers expect detailed records of maintenance to the panels and information on how your electric bills have improved, so be sure to provide those documents to your agent when putting your house on the market. The U.S. now has 2 million homes with solar panels installed and this number is expected to rise; as such, buying and selling a home with solar panels is getting easier and more sought after.
Do you have solar panels on your home? Are you interested in putting them on or buying a home with them? Drop a comment below and let me know your thoughts!