Recently Todd an agent in my office came across a new situation and one that is sure to occur more and more as solar becomes more prevalent in residential sales.
Todd was working with buyers in the process of purchasing a home that had an existing 25 year solar lease. The solar lease had the potential of being assumed but the buyer’s would have to qualify. In addition the buyer’s did not want the monthly payment and the future complication of buyers needing to qualify for the lease.
Todd researched the alternative of a buyout option for the lease. For $25,000 there would be no more monthly payment and it would eliminate the lien on the property. It would also erase any hassles in selling the home down the road.
Todd being the creative agent that he is worked out a deal where the buyer and seller split the cost of the buyout and made it part of the transaction. The seller still sold the home at a good price, the buyer receives the benefit of very economical electric bills without a monthly solar payment or an extra lien attached to their home.
If you are exploring your options for solar or looking at maintaining the solar you currently have I would recommend that you talk to Mike at AZ SolarCare, www.azsolarcare.com, 480-678-2989, email@example.com.
Prudential Arizona Properties