Solution involving a solar lease during a home purchase

By
Real Estate Agent with Berkshire Hathaway Home Services Arizona Properties
https://activerain.com/droplet/4c74

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, mike@azsolarcare.org.

 

Solar on home

Matt Beck
Prudential Arizona Properties
Direct: 480-788-BECK

Posted by

Matt Beck

Berkshire Hathaway Home Services Arizona Properties

3200 E Camelback Rd

Phoenix, AZ 85018

www.MattBeckhomes.com

MattBeckHomes@gmail.com

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Topic:
Home Buying
Tags:
purchase
real estate
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solar lease

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Rainmaker
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Cindy Graesser
Keller Williams - Temecula, CA
CG Premier Realty Group. "We'll Get you Moving!"

you have no idea - how much I run into this lately!! thanks for the info and #

Feb 19, 2014 01:30 PM #1
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