Silicon Valley Buyers look for energy efficient homes. From large appliances to tankless water heaters, the less dependent a home is traditional energy sources, the more attractive it can be to a potential Buyer. Many Silicon Valley homeowners have turned to solar panels as their primary source of energy. This may involve a lease for the panels. Before you put your home on the market, you need to check into transferring solar lease panel agreements in a Silicon Valley home sale.
Transferring Solar Panel Lease Agreements
Since 2012, solar panel installations on homes increased at least 50% every single year. Homeowners understand the benefits of utilizing clean energy for both your pocketbook and the environment. Nowhere is this more evident than right here in California. Solar panels can be expensive up front. That's why many homeowners lease the panels rather than buy them outright. If you have a lease, you need to research transferring solar panel lease agreements before you put your Silicon Valley home up for sale.
First of all, talk to your Silicon Valley real estate agent and your title company. Make sure you disclose everything you know about your solar panel lease. The earlier you do this, the better. Discuss possible issues that might arise when transferring solar panel lease agreements so that you can address these potential problems ahead of time. The helps ensure an easier real estate transaction down the road.
Next, keep your solar panel lease company in the loop. Most of these companies include staff members to assist both parties (Buyers and Sellers) with any questions during the lease transfer. Then, check your records to confirm all easements have been accurately recorded. If not, you could run into problems in your real estate transaction. In California, you cannot sell a home unless it is free of all liens. This includes any liens that may be placed on your property from your solar panel company.
Finally, good communication is the rule of the day. Disclose everything you can think of about your solar panel lease to your Silicon Valley real estate agent and your escrow officer. This includes the terms of your lease agreement, company requirements, status, etc. The more information you have, the easier it becomes for them to help you.