Selling Your House With Solar Panels – Is it Harder to Sell a House With Solar Panels?
If you’re planning on selling your house and have solar panels on it, there are a few things you should consider. For one thing, solar panels are an additional luxury, which is hard to sell. Even if buyers like the idea of a top-dollar kitchen and an amazing backyard pool, there is a very low probability that your house will sell in that price range. However, if you know how to best communicate the solar panels’ benefits to prospective buyers, you’ll have a much easier time selling your house.
Another thing to remember when selling your house with solar panels is that many mortgage lenders require that you pay off your solar lease. If you don’t, your buyer may have a hard time obtaining a mortgage for the purchase. Also, solar lease payments will negatively impact your credit, so make sure the buyer can afford the payments. Ultimately, you’ll be making a big financial decision with the purchase of your house.
If you’re selling your house with solar panels, it may be worth considering an off-market sale instead. Solar leases may deter some potential buyers, but some investors are willing to pay cash for them. You might consider using a website like Sundae, which has a marketplace where you can post your property and receive multiple offers. Then, you’ll get a $10,000 cash advance upon inspection of your home. Then you don’t have to worry about hiring a real estate agent, remodeling, or closing costs.
Before selling your house with solar panels, you’ll need to get a good price. That’s why you should reach out to a large audience of prospective buyers and make them envious of your solar panels. It might help to hire a real estate agent with experience in selling homes with solar panels, because they usually have plenty of insights to offer and are motivated to get you the best possible price. If you decide to use one, be sure to keep all the relevant documents in a separate folder with the rest of your property information.
Besides being a hassle, a solar panel lease may be a turn-off to potential buyers. This is because your new buyer needs to qualify for a lease that covers solar panels. And because of the additional monthly payment, new homebuyers may be less eager to purchase a house with solar panels. In addition, if they know about the solar panels, they may want to stay in the house longer. That could mean extra time and reduced value.
Another consideration when selling your house with solar panels is the appraiser. Not all appraisers have experience with solar homes, so make sure you tell them about the solar system in your listing. Moreover, be sure to mention how much you’ve saved on electric bills with your solar system. You can also offer a warranty if your solar panels were installed by a reputable company. If your buyer doesn’t know what the savings are, they won’t even want to look at them.