solar home

Transferring Your Goodleap Solar Loan When Selling in Phoenix, AZ

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Goodleap solar loan transfer

Navigating Solar Loan Transfers with GoodLeap in Phoenix, AZ: A Comprehensive Guide

In the sun-drenched landscape of Phoenix, AZ, solar homes are more than just a trend; they’re an investment in sustainable living. If you’ve got a solar loan with GoodLeap and are considering selling your home, understanding the intricacies of the loan transfer process can be pivotal. In this guide, we’ll shed light on the GoodLeap solar loan dynamics and how it impacts home sales in Phoenix.

Understanding the UCC-1 Financing Statement

First, let’s demystify a term that often stirs confusion: the UCC-1 Financing Statement. Many homeowners fear that this is a lien against their homes, but that’s not the case. When you secure a Solar Loan with GoodLeap, a UCC-1 is filed as a lien on the solar equipment itself, not your property. This UCC-1 filing is a means to protect GoodLeap’s rights as your solar system’s financier. It safeguards their security interest against any third-party claims. If queries arise regarding this filing, GoodLeap is always available to address concerns at solarinfo@goodleap.com.

Selling Your Phoenix Home with a GoodLeap Solar Loan

When you’re ready to bid adieu to your Phoenix home, your GoodLeap solar loan presents two main routes:

  1. Loan Payoff: The majority of homeowners opt to clear the outstanding balance of their GoodLeap loan using the proceeds from their home sale.
  2. Loan Transfer: If the prospective homeowner expresses interest and qualifies, they can assume the responsibility of the GoodLeap loan.

Let’s focus on the latter, given its procedural nuances.

Transferring Your Solar Loan – A Step-by-Step Guide:

  1. Communication: Relay your intention to sell to GoodLeap.
  2. Contractual Agreement: The buyer and seller should concur in the property purchase agreement that the loan transfer is a sale condition.
  3. Loan Transfer Initiation: The potential homeowner liaises with GoodLeap to apply for the loan transfer.
  4. Approval: Once the buyer’s credit passes muster, the loan application is greenlit.
  5. UCC-1 Removal: Before concluding the sale, the UCC-1 filing pertaining to the solar equipment must be lifted.
  6. Sealing the Deal: Involved entities oversee the sale’s culmination.
  7. Transition: The buyer takes over the house, continuing with the solar loan payments and reaping the rewards of green energy.

For the buyer, there’s a list of actions to ensure a seamless transfer. This includes understanding the Solar Loan Agreement, applying for the solar loan, liaising with the original solar installer, and more. For the seller, clarity on the Solar Loan Agreement, necessary disclosures, and effective communication with the buyer are paramount.

If You’re Buying a House: Your Step-by-Step Checklist

  1. Review the Loan Agreement:
    • Get a copy and understand the Solar Loan Agreement to know what you’re stepping into.
  2. Fill Out the Loan Application:
    • Complete the GoodLeap solar loan application. Be sure to fill in every section!
  3. Sign and Send the Form of Intent:
    • The Form of Intent is like a promise note to the Seller that you’re interested in taking over the solar loan.
  4. Get the Green Light from GoodLeap:
    • Wait for the thumbs-up from GoodLeap, ensuring you satisfy their conditions for the loan.
  5. Know Your Solar Installer:
    • Ask the Seller about who installed the solar panels.
    • Contact the installer to make sure all warranties will be transferred to you after the loan take-over.
  6. Call Your Insurance Agent:
    • Let your insurance company know you have solar panels on your new home, ensuring they’re covered too!

Remember to Share These Documents with GoodLeap:

  • Real Estate Purchase Agreement
  • Closing Statement (if you’re also selling a house)
  • Loan Estimate on the new mortgage (showing balance, payment, and term)
  • Your recent paystubs as proof of your income

For Sellers: Checklist to Transfer:

  1. Share the Loan Agreement:
    • Ensure the Buyer is aware of the rates and terms of the Solar Loan Agreement they will be taking on.
  2. Disclose Outstanding Payments:
    • If you have any outstanding payments (Voluntary Principal Payment), let the Buyer know beforehand.
  3. Complete and Hand Over the Solar Form of Intent:
    • Complete and sign the Solar Form of Intent, and return it to the Buyer.

Important Note for Sellers: Make sure that your final payment and interest are cleared 5-7 business days before the Close Escrow Date. Sometimes, an additional payment might be needed to give the Buyer a cushion of at least 30 days from the close of escrow before their first payment is due.

In the process, both Buyer and Seller acknowledge that GoodLeap doesn’t control the home sale or closing timeline. They simply facilitate the loan process. To complete the solar loan transfer, the Buyer must be credit-approved, and if the full balance isn’t paid, the transfer can’t be finalized. If the Buyer can’t assume the loan, it will need to be paid off in full.

And that’s it! A simplified step-by-step checklist for Phoenix home buyers and sellers, managing the transfer of a GoodLeap solar loan. If you have any more questions, reach out to Rob directly. Remember, step-by-step, and you’ll sail through smoothly!

Solar homes in Phoenix, AZ, embody a blend of environmental responsibility and savvy investment. With organizations like GoodLeap offering flexible and clear solar loan options, transferring or managing your solar loan during a home sale becomes a streamlined process. Whether you’re a seller or a buyer, understanding the nitty-gritty of GoodLeap’s solar loan structure can pave the way for a smooth home sale and ensure continued harnessing of Arizona’s abundant sunlight.

A version of this article can be found online at: https://www.phoenixhomebuying.com/goodleap-solar-loan-transfer-guide-for-phoenix-az-solar-home-sellers/

Transferring Sunlight Financial Solar Loans in Phoenix, AZ: A Comprehensive Guide for Solar Home Sellers

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Sunlight Financial Solar Loan

The desert sunshine in Phoenix isn’t just a draw for snowbirds and tourists; it’s a compelling resource for homeowners looking to harness sustainable energy. With its bountiful sunlight, Phoenix has witnessed a surge in residential solar installations. Many of these have been made possible through solar loans, with companies like Sunlight Financial offering a robust pathway to powering homes through the abundant Arizona sun. For homeowners with a Sunlight Financial solar loan contemplating a home sale, navigating through the transition of a solar loan can present a unique set of considerations.

The Intricacies of a Sunlight Financial Solar Loan

Sunlight Financial offers a flexible and customer-friendly solar loan, providing the advantage of a one-time re-amortization and permitting clients to apply their federal tax credits toward maintaining manageable monthly payments. For example, Frank, a new solar customer, ensures timely monthly payments and opts to utilize his federal tax credit. The loan re-amortizes 18 months post-installation, adjusting based on his proactive payments and adherence to the 26% voluntary payment guideline. This thoughtful structure provides a cushion and financial latitude, especially for those who might leverage tax credits to maintain or reduce their monthly financial obligations.

Exploring Options to Manage a Solar Loan During Home Sale

Upon deciding to sell, homeowners have two primary paths: pay off the remaining balance, presenting the home with a fully-paid solar system, or opt for a loan transfer, allowing the buyer to take on the loan payments. The latter scenario necessitates a meticulous understanding and adherence to a set of steps ensuring a smooth transition, which hinges on both seller and buyer alignment and lender (Sunlight Financial) approval.

Selling Your Home While Transferring the Solar Loan

For those opting to transfer their solar loan, a series of well-defined steps ensure a seamless transition:

  1. Communication with Sunlight Financial: Alert them about the upcoming sale.
  2. Purchase Contract Alignment: Ensure the homebuyer agrees to the loan transfer and integrate this into the purchase contract.
  3. Buyer’s Loan Transfer Application: The buyer contacts Sunlight, undergoing a credit check and completing the loan transfer application.
  4. Loan Approval: Sunlight reviews and, contingent on credit approval, endorses the loan transfer.
  5. Removing the UCC-1 Filing: A critical step to finalize prior to closing, safeguarding Sunlight’s interest in the solar equipment while not affixing a lien to the home.
  6. Closing the Sale: Engage escrow, title, and closing companies to finalize the sale.
  7. Transfer Completion: The buyer settles into their new home, continuing the solar loan payments.

Understanding and Communicating the Security Interest (UCC-1 Filing)

Transparency and clear communication with potential buyers regarding the UCC-1 filing are pivotal. Explaining that there is no lien on the property, but a security interest in the solar equipment itself, is crucial to assuage any concerns. The filing underscores that the lender (Sunlight) holds a security interest in the solar installation, protecting their investment while not encumbering the home’s title.

Encouraging Loan Pre-Payment and Financial Flexibility

Emphasizing the option and benefits of early loan pre-payment to potential buyers can also be a compelling selling point. Sunlight Financial doesn’t impose prepayment penalties, and early settlement minimizes accrued interest, offering buyers a financially savvy pathway should they opt to expedite loan completion post-purchase.

Leverage the Appeal of Solar During Your Sale

While managing the logistical aspects of the solar loan transfer, don’t forget to highlight the appeal of a solar-equipped home to prospective buyers. Detailing reduced energy costs, potential tax benefits, and the environmental impact can elevate your home’s attractiveness, often offsetting any apprehension related to assuming a solar loan.

Ensuring Buyer’s Comfort and Understanding in Loan Transfer

Securing a buyer’s agreement to assume the solar loan necessitates thorough communication regarding the transfer process, requirements, and implications. Ensuring that the buyer is not only financially capable but also comfortable with the obligations and process is crucial to avoid any eleventh-hour disruptions to the sale.

Post-Sale and Ongoing Relationship with Sunlight Financial

After the sale concludes, the new homeowner’s relationship with Sunlight Financial and their commitment to the solar loan persists. Facilitating a smooth transition and providing any necessary documentation or support post-sale fortifies a positive ongoing relationship and ensures the sustained success of the solar installation.

As Phoenix continues to be a beacon for solar energy utilization, understanding and effectively managing solar loan transfers during a home sale is becoming an indispensable skill for homeowners. By adhering to a well-defined process, ensuring transparent communication with buyers, and highlighting the multifaceted benefits of solar installations, sellers can navigate through the complexities of solar loan transfers, contributing to a smooth home sale and perpetuating the utilization of Phoenix’s most abundant resource: sunlight.

Note: This article provides a generalized guide and it is essential for sellers to consult with a real estate professional (like Rob Madden, the Solar Home Broker) or attorney to navigate the specificities and legalities of their individual sale.

To contact Sunlight Financial directly, they can be reached at (888) 850-3359 or support@sunlightfinancial.com

A version of this article can be found online at: https://www.phoenixhomebuying.com/sunlight-financial-solar-loan-transfer/

Does Solar Increase Your Home Value in Phoenix

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solar adds value to homes in Phoenix

Does Solar Add Value to a Home in Phoenix?

Solar home sales are increasing every month and now report for at least 8% of all of the home sales throughout the Phoenix area. With hundreds of solar homes selling each month, many solar home owners throughout the Phoenix area are wondering if solar adds to their property’s value.

Having been in the real estate industry for the last 29 years and focused on selling solar homes for over 12+ years now, the simple answer is yes, solar can raise your home value if you follow a few simple steps to make sure you get the most value out of your home when you sell it. With millions of dollars worth of solar transactions over that period, no two transactions are alike and no two homes are the same. I have found the one common denominator in all of these transactions is me, coming in with a lot of solar real estate experience, training on marketing and valuing solar homes, and insight on how to properly guide my solar home sellers to get the most value for their property.

How To Get Full Value For Your Solar Home

My track record has shown that I have had homes sell for more than the area non-solar homes and in the same amount or even less time. There are seven key steps as a solar Realtor that I take to make sure that the solar panels add value to the home.

7 Steps to Added Value for Solar Homes

  1. Research the make, model and efficiency of the solar equipment
  2. Analyze the true cost of energy production versus the aggregate amount of solar savings generated from the solar panels
  3. Have an independent third party certify the solar system (used for both sales marketing and the appraisal)
  4. Create a detailed broker price opinion of value based upon the home and its features in relation to non-solar home sales in the area
  5. Design solar specific marketing material to demonstrate and educate the buyer on the benefits and cost savings from the solar panels
  6. Require the buyer to hire a certified green appraiser that understands solar when having an appraisal done on the home
  7. Personally meeting the appraiser at the home during the appraisal to give them a detailed solar report that includes information about the solar system, energy production, cost off-sets and utility usage reports, form 820.06 Green and Energy Efficiency Addendum for the appraisal (filled out by an independent third party) and relevant comparable home sales data.

The key to getting full value for your solar panels is hiring the right solar real estate agent when you sell your home!

The average solar home in Phoenix only receives $1500 in extra value because sellers fail to take the right steps for max solar value.

In my experience, most sellers do not fully understand the benefits or function of their solar panels on their roof.  Now, imagine having home buyers come through their home that have had solar…and just telling them that it saves $100 a month (or whatever that figure may be). Who is guiding that seller and buyer to ensure that not only the buyer recognizes the value of the solar panels on the roof but also the third party professionals such as the home appraiser or mortgage lender that are basing financial calculations on the value of the solar home? You need an experienced and qualified solar real estate agent to guide you through the process. Otherwise, you are just a solar guinea pig training a real estate agent on the do’s and don’ts of how to sell a solar home.

With over tens of millions of solar real estate sold and millions more in regular real estate sold in the Phoenix area, I have helped many home owners realize higher equity returns on their solar with an average of $1.65 to $2.78 per watt, depending upon the size and age of the solar panels and inverter. No two solar homes are alike but I know I can help you too.

Give me a call at 480-888-1234 and let’s talk about getting the most value for your solar.

How A Mortgage Affects the Sale of a Solar Home in Phoenix

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mortgages and solar home sales

How a mortgage affects the sale of a home in Phoenix.

Owning a home adorned with shiny solar panels in sunny Phoenix is an exciting prospect. But, hey, we get it! The financial side, especially understanding mortgages and loans, can be a bit tricky. Let’s explore, in straightforward terms, how different loan options work for purchasing a solar home in the Phoenix area.

Conventional Loans: Your Everyday Mortgage

These are your standard loans, often used by many. They’re guided by rules set by Fannie Mae or Freddie Mac, which are entities that buy and package mortgages. Fun fact: You can snag a conventional loan by putting down as little as 3% and choose between a 15 or 30-year payoff plan.  Additionally, solar lease payments are not added to your qualifying ratios (though a solar loan payment would be added unfortunately).

When it comes to homes with solar panels, there’s a special form (the “Residential and Green Energy Efficient Addendum”) that appraisers use if the solar system is owned and not leased. A tiny hiccup to keep in mind: if you purchased solar panels under the PACE program (specific to California), Fannie Mae won’t back the loan. But since we’re in Arizona, no worries there!

FHA Loans: Friendly and Adaptable

FHA loans are known for being user-friendly with flexible rules. The Federal Housing Administration (FHA), a part of the U.S. Department of Housing and Urban Development (HUD), ensures these loans. They’re renowned for their lower down payments and more lenient guidelines.

When solar comes into play, FHA has cool specifics. They allow mortgage amounts to go beyond 20% of the max allowable FHA home loan if that excess is used to install a solar system. Plus, with an FHA Energy Efficient Mortgage (EEM), you can finance up to $10,000 for energy improvements (like solar panels) with as little as 3.5% down.

Another neat offer from FHA is the Title I loan, providing funds for energy improvements even if you’ve not much equity in your home. Although rarely used for initial home purchases, it can be a boon for existing homeowners in Phoenix wishing to shift to solar without leasing.

VA Loans: A Salute to Service

Here’s a shoutout to our military veterans! VA loans are tailor-made for you, requiring no money down and are, in general, a fantastic deal.

When we bring solar into the picture, VA has specific guidelines, notably in VA Pamphlet 26-7, regarding how solar systems are valued and qualified. Similar to other loan types, if the solar system is a permanent part of the home and not leased or financed, it adds value.

VA also has an energy-efficient mortgage, but it’s worth noting that it’s not commonly offered by most lenders in Phoenix.

In a Sunbeam: The Link of Loans and Solar

Regardless of the loan type, Phoenix has proved to be a sun-drenched paradise for solar homes. However, diving into the financial aspect, particularly loans, requires a little light to be shed on the intricate details.

Through the lens of conventional, FHA, and VA loans, potential solar homeowners can navigate the sea of financial jargon and lay the foundation for their luminous abode in the vibrant heart of Arizona.

The takeaway? While each loan type has its unique shades, the underlining fact remains that turning your home into a beacon of sustainability with solar is certainly plausible. And with the right financial route, you can bask in the glow of both the sun and smart, future-proof investment in a solar home in Phoenix.

Selling Your Solar Home in Arizona

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Turn solar into sold

Shining a Light on the Myths About Solar Homes

You’ve heard it often – real estate agents whispering that solar panels make selling a home in Arizona trickier and slower. But hold on a minute, is there any truth to that? Well, not really! It turns out, many of these agents might not fully understand how to showcase the fabulous pluses of a solar home to possible buyers. So, why are some Phoenix solar home owners choosing these agents, who see their energy-saving solar setup more like a hurdle than a selling point?

Tackling the Why and How of Solar Benefits

Here’s the scoop – the agents might not know how to talk about solar homes in a way that gets people excited. Maybe they don’t quite get how solar technology works or perhaps they don’t realize all the cool perks you’ve gotten from your solar system since you installed it.

Experience Talks: Shaping a Pro-Solar Selling Strategy

In the 30+ years of working in real estate, with a good 12 years zeroing in on selling solar homes in the Phoenix area, there’s been a lot of learning and understanding about how to do it right! After seeing what works (and what doesn’t!), I have crafted a 7-Step plan to make sure your solar home gets the top-notch value it truly deserves.

Stepping Up the Solar Game: Empowering Buyers and Agents

With a specialty in solar and knowing all the ins and outs of energy efficiency, it’s clear that many buyers are being led by agents who might not be able to tell them about the awesome benefits and advantages of going solar. This 7-Step plan swoops in to fix that, educating both the buyer and the real estate agent and showing how your solar setup will save them bucks on their electric bills each month.

Picking the Right Guide: Don’t Settle for Less!

Want to know the secret sauce to selling your solar home in Arizona? Get the right solar real estate agent on your team BEFORE you put your home on the market! Even though loads of people manage to pass the real estate exam in Phoenix, not all of them know the special details of selling a solar home. Don’t let your home be a practice round for an agent who’s still figuring things out!

Avoiding Pitfalls: Navigate the Sale with Confidence

Choosing an agent without experience in solar homes could mean stumbling into unnecessary mistakes and waits while they try to learn on the job. Your home, and indeed your wallet, deserve better than being a learning experience for someone else!

Championing Solar Sales with Certified Expertise

As a certified EcoBroker and GREEN Realtor, plus being certified in energy auditing from the Building Performance Institute (BPI), there’s a lot of know-how in selling homes that have all sorts of solar setups, whether leased or owned. And the goal is to use all that expertise to help you!

Let’s Illuminate Your Path to a Successful Sale Together!

Ready to talk about how to get your solar home sold in a way that truly values its worth? Dial 480-888-1234, and let’s chat about putting your solar home in the spotlight, ensuring it attracts buyers who will appreciate its true value!

Tesla / SolarCity Solar Lease Transfers for Phoenix Solar Homes

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Tesla / SolarCity lease transfer in Phoenix

Harnessing the Sun, Powering the Sale: Your Comprehensive Guide to Transferring a Tesla / SolarCity Solar Lease in Phoenix

Phoenix, AZ, radiates not just with its vibrant desert landscape but also as a hub where homes are empowered by the brilliance of the sun, thanks to solar systems like those provided by Tesla / SolarCity. As a Phoenix homeowner, if you’re considering selling your abode and it’s powered by Tesla / SolarCity’s solar products, you may wonder how to smoothly transfer your solar lease to the new owners. Ensuring a seamless transfer will not only uphold your obligations as a seller but also showcase your transparency and responsibility.

Understanding Tesla / SolarCity’s Solar Lease

Tesla / SolarCity’s solar lease, particularly popular in sunny locales like Phoenix, is an arrangement where you, the homeowner, lease the solar system from Tesla / SolarCity, reaping the benefits of the generated energy while paying a fixed monthly fee. When you decide to sell your home, it’s crucial to navigate the lease transfer process adeptly to ensure a smooth transition for both you and the buyer. Below is your straightforward guide to illuminate every step of this journey.

Part 1: Initiating the Transfer Process

It’s pivotal to kickstart the transfer process as soon as you enter a contract with a buyer (if not before but an experienced solar Realtor will have already advised that). As the system owner, you hold the key to initiate the contract reassignment process. Let’s distill the primary steps:

  • Sign in to Your Tesla / SolarCity Account: Navigate to the energy product you are transferring.
  • Transfer System Ownership: Within the ‘Transferring Your System’ section, select ‘Transfer system ownership,’ entering crucial details like the transfer type, status, assuming party, and escrow details.
  • Comprehensive Communication: Engage openly with the buyer to ensure they comprehend their new obligations under the solar agreement and to answer any questions they might have. Most likely you should have had the buyer sign a solar lease/loan addendum as part of the purchase contract that will contractually obligate them to this process.

Part 2: Ensuring Legal and Financial Compliance

The ownership transfer isn’t merely a physical handover; it involves due diligence in handling the financial and legal aspects:

  • Addressing the UCC-1 Financing Statement: Though not a lien, a UCC-1 financing statement indicates Tesla / SolarCity’s ownership of the solar system. For financing purposes, this may need to be temporarily released or subordinated, necessitating a $150 document processing fee paid by the seller.
  • Handle Final Invoicing: You’ll receive a final invoice within two billing cycles post-Close of Escrow on the home, covering energy produced (for PPAs) or monthly lease payments through Close of Escrow.

Part 3: Navigating Diverse Contract Types

Tesla / SolarCity offers various financing options, and each carries a unique protocol during home sales:

  • Cash Purchases: Directly contact Tesla / SolarCity’s Customer Support team.
  • Third-Party Loans (e.g., Mosaic, Sunlight): Engage with your loan provider to transfer the contract, contacting Tesla / SolarCity post-home sale.
  • Tesla / SolarCity Loans: Connect with the Tesla / SolarCity Finance team at 844-837-5285, selecting option 2.

Part 4: Bridging to the New Homeowner

Post-transaction, the responsibility to inform Tesla / SolarCity about the closure falls upon you, ensuring all systems update to reflect the new owner under the solar agreement. The new owner simply continues where you left off—no restarting of terms, ensuring a seamless transition and consistent solar service.

Part 5: Available Assistance

Tesla / SolarCity’s specialized Property & Title team, laden with real estate expertise, stands ready to assist both sellers and buyers. Once they receive authorization from the initial contract holder, they can share detailed solar agreement information and address queries, ensuring every party is well-informed.

Contacting Property & Title

  • Online Requests: www.tesla.com/realestate
  • Phone Number: 1 (877) 650-7652

A Spotlight on Responsibility

By ensuring a thorough and transparent transfer process, you not only uphold your obligations but also shine a light on responsibility, fostering a trusting relationship with the buyer and ensuring the continued utilization of sustainable solar energy in Phoenix homes.

Commonly Asked Questions:

What can I do with my Tesla / SolarCity solar system agreement if I’m selling my house in Phoenix?

You’ve got a couple of options:

If Tesla / SolarCity owns the system, you can usually transfer your agreement to the person buying your home. They’ll continue where you left off. If you want to check other choices, look at your contract on your Tesla account.

If you own the system, no need to transfer the contract if you bought your panels with cash or used another financier. The warranties stay with the system. Once you sell, tell the Property & Title team at Tesla / SolarCity, so they can update your account.

How do I move the Tesla / SolarCity solar agreement to the new homeowner in Phoenix?

Here’s a simple path if Tesla / SolarCity owns the system:

  • Tell Tesla / SolarCity early: Let the Property & Title team know as soon as you decide to sell.
  • Be clear with buyers: Make sure anyone looking to buy knows about the solar system and its agreement.
  • Inform Tesla / SolarCity about the buyer: Once you have a buyer, make sure they chat with the Property & Title team too.
  • Easy paperwork: Tesla / SolarCity will give you an online form to sign. It’s easy and digital!
  • Make it official: After the home sale is done, Tesla / SolarCity will put the new owner’s name on the account.

If you own the system, no need for paperwork. Just share the new deed with the Property & Title team, and they’ll update the account.

Can my renter in Phoenix take over the solar contract with Tesla / SolarCity?

You can let anyone, like your renter, have access to the account, but the homeowner’s name must stay on the contract. But be careful, because your renter will see personal info like billing details. It might be better to keep the bill in your name and have your renter pay you back.

Does the buyer need to qualify to take over the solar agreement in Phoenix?

If Tesla / SolarCity doesn’t own the system or it’s been fully prepaid, no worries about qualifying. If there’s a monthly payment to Tesla / SolarCity, the buyer can qualify by:

  1. Meeting Tesla / SolarCity’s credit standards.
  2. Buying the home with cash.
  3. If those two don’t work, they can pay a $250 credit fee.

Anything I should think about with the Tesla / SolarCity solar system before accepting an offer on my Phoenix home?

  • If Tesla / SolarCity owns it, make sure potential buyers and your real estate agent know about the solar agreement. You might want to make the transfer of the solar agreement a condition of the sale. Also, think about the buyer’s financier and if they’re okay with a home that has a solar agreement.
  • If you own the system, simply let the Property & Title team at Tesla / SolarCity know and provide the new deed when your home is sold.

Can my Tesla / SolarCity panels’ value be part of my Phoenix home’s price?

If you own the solar system, yes, it can be part of the home’s appraised value. If you don’t own it, it usually isn’t included in the property’s value.

Final Thoughts

As you journey from the contemplation of selling your home to handing the keys to the new owner, knowing that you have responsibly transferred your Tesla / SolarCity solar lease not only amplifies your credibility but also perpetuates a chain of sustainability in the heart of Phoenix. May every sunrise in your new abode bring you as much energy and brightness as your previous Tesla / SolarCity-powered home!

Top 10 Tips to Selling a Solar Home in Arizona

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top 10 list solar home selling

You may think that selling a home with solar is the same as selling any house in the Phoenix area, but solar adds a unique dimension to the selling process.  As the home seller with a solar array on your home, whether you own the solar outright or are leasing the solar system, there are several tasks you should complete before putting the “for sale” sign in your front yard.

While many of the suggestions are fairly simple and straight-forward advice that I would share with anyone selling a home in the Phoenix area, some items are unique to the solar home selling process and can play a crucial role in ensuring that you receive the best offer in the shortest amount of market time possible.

Top 10 Tips When Selling a Home with Solar in Arizona

  1. Gather together all of your solar documentation.  Solar documentation includes leases, solar loan documents, net metering agreements, sales brochures, system information, and any other documentation you received when you installed solar on your home or signed in connection with solar on your home.  It is important to contact the solar company to verify their procedures to transfer the solar lease/loan to the new buyer while your solar system information is helpful in preparing marketing materials and providing the home’s appraiser with detailed system information in order to maximize the system’s added value to the home.
  2. Gather together all of your energy bills.  A crucial part of marketing a home with solar is to explicitly show potential buyers the beneficial savings you have enjoyed since installing solar on your home.  Besides having at least a 12 month history of utility bills since you have had solar (in order to demonstrate to the buyer how well the system works throughout the year), it is important to have at least a 12 month history of utility bills before you had solar installed on the home in order to compare and contrast how well the solar system has saved you money.
  3. De-clutter.  Get rid of the piles of magazines that you no longer read and take down all of the personal mementos that are potential distractions to the hoards of home buyers that will be viewing your home.  Remove excessive furniture in rooms to make them feel more open and spacious.  Clear out closets and put items that you don’t need into storage.
  4. Clean the home thoroughly.  It is one thing to live in a home and another to sell it.  Your home has to be show-ready at any possible moment and giving your home a deep cleaning will help make a good first impression on buyers visiting the home.
  5. Focus on curb appeal.  What is the buyer’s first impression when the pull up to the home?  Does the look shabby and run down with weeds growing in the rocks?  Is it clean and well maintained?  What impressions with that buyer begin forming as they walk up to the front door?
  6. Fix it.  As I stated before, it is one thing to live in a home and another to sell it.  Do you have leaky faucets that you have overlooked for years?  Do you have doors that stick or wall paper beginning to peel in the bathrooms?  As buyers walk through your home, each one of these faults that you have grown to live with will become reasons for buyers to knock down your price or move on to other homes because the home requires too much work.  Don’t give a buyer a reason to walk away and the bigger the problem, the bigger of an issue it will be for a buyer, especially if the ceiling has water stains, an appliance doesn’t work, or if a window is boarded up because it is cracked.
  7. Don’t overlook the other primary variables that a buyer will want from a home.  Unfortunately solar is not a primary search variable for home buyers in the Phoenix area, rather, it is a secondary search feature.  Buyers tend to focus on price, location and neighborhood, size of the home, schools, and the flow of the home to make the initial determination to visit a home.  Solar, along with other factors such as parking, storage, pool, and other features and amenities in a home, become additional features that will differentiate your home from the rest of the competition.  Be sure to emphasize other factors that will help a buyer in their decision process including other features, amenities, upgrades, and perks that your home has to offer.
  8. Price it effectively.  Price is one of the top three variables that will determine if a buyer even visits your home (location and size are the other two).  Price it according to the market, not what you feel it is worth.  In previous years, there have been times when pricing above market were realistic while during the market downturn, prices were falling like bricks just to attract a buyer through the home.
  9. Have an effective marketing plan.  While there are many similarities to selling a home with solar to the average, run-of-the-mill home in the neighborhood, there should be an additional level of marketing the solar benefits of the home.  Failure to illustrate the benefits of solar can result in longer marketing times and lower offer prices by buyers.

  10. Call the Solar Home Broker at 480-888-1234.