Any Realtors or Seller's sell a home with a Solar Lease ? how did the buyer feel about it ?(the 20 year lease's for the solar equipment on the home)

Asked by Stephanie Vogt, Irvine, CA Fri May 17, 2013

Any experience with sales and Solar lease?

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6
Larry Webb,…, Agent, Ladera Ranch, CA
Wed Jul 17, 2013
I worked with a Buyer that relocated to Phoenix Arizona. The solar company is Solar City. It is a brand new home so he has a new roof (very important) and it was all part of the new construction. He remains highly satisfied. I also happen to know that Verengo Solar (also works Ladera Ranch) is very good. There are several ways to go on this...buy or lease the system. Depends on how much electricity intended to use and also available rebates. Clearly, it SEEMS to be a good idea. However...ALWAYS read the entire contract and know your obligations on transferability and the like. Good luck!

Larry Webb
Real Estate Agent | Broker Associate | REALTOR
Century 21 Award - Fine Homes and Estates

http://www.LaderaRanchHomeSales.com
1 vote
Vimy Nesmith…, Agent, Mission Viejo, CA
Wed Jul 3, 2013
Hi Stephanie,

How did things go with the Solar Lease?
1 vote
I'd suggest you refer to the actual lease document signed and negotiated by the original purchaser of the solar system. That document generally tells how they are/are not transferrable and the associated ramifications. Any good solar lease company will allow you to review that during your initial sales consultation with them prior to purchase so there are no surprises upon transfer later.

Dr. Larry Webb, MBA
Broker Associate/Agent – REALTOR®
(714) 222-1465
Century 21 Award - Fine Homes & Estates
South Orange County, California
E-Mail: DrLarryWebb@cox.net
Video Biography: http://www.DrLarryWebb.com
Website: http://www.LaderaRanchHomeSales.com
See my professional recommendations on Trulia.com
CalBRE Real Estate Broker’s License: 01413405
Flag Wed Dec 18, 2013
Hi Vimy..I dont have a listing with a solar lease yet..but i am seeing it more and more in Ladera and i was curious if any agents have had any experience with it.. so many of the leases are different on how it can be transferred etc. i am also looking at a solar lease for myself too :)
Flag Wed Jul 3, 2013
Ingrid Ski R…, Agent, Mission Viejo, CA
Fri May 17, 2013
For the Home with Solar that is being leased.. I have this on my home and when I sell it I would have to pay it off in full. This does not transfer to the new owner...
The people I have spoken too like the idea of no electric bill and pay or get a refund once a year what date that is set at. It is green and definetely adds value to the home, less on monthly expenses. and their wallet has more money..


Ingrid Ski Realtor
949-874-0432
OCAreaHomes@gmail.com
1 vote
Thom Colby, Agent, Irvine, CA
Fri May 17, 2013
The curse ! I tried to sell one in the Desert and even though it was only about $150 / month, no Buyer would touch it. That property ended up going to Foreclosure! Good luck !
1 vote
Emily Knell, Agent, Huntington Beach, CA
Fri May 17, 2013
I have whole house solar that we own as opposed to lease.

But I have neighbors who are doing solar lease, not sure if it's as long as 20yrs but it's much less costly for their situation, than paying to have them installed. It depends on how long they think they'll live there, I suppose.

With what we paid to own them, it will take us 5yrs for the cost to payoff vs. what our average electric bills were previously, but we plan on keeping the house at least another 30+ yrs. so it makes sense for us.

You need to ask the seller for records of their electrical consumption for 1-2yrs prior to the installation of the solar panels & then compare that to the cost of the solar lease monthly, I'm sure it's going to be a savings for any new owner.

Emily S. Knell
EmilyKnell1@yahoo.com
562-430-3053 c
Realtor Since 1996
Realty ONE Group
0 votes
Alex Vargas, Agent, Irvine, CA
Fri May 17, 2013
If think Solar panels are an added value to the property. You can easly pay over $150-$300 bucks or more per month just for electricity.

See if there's an out on the contract.

I 3 different families that have over 2800 sqft and they paid like $8K$10K and they were done. Solar has gone done big time in recent times.

Best,

Alex Vargas
ReMax Premier Realty
(714) 269-8775 Mobile

DRE #01332235
0 votes
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