If you’re a real estate agent, taking a listing with solar panels can be intimidating. Solar panels are often expensive and understanding their value and whether they are owned or leased is essential to the listing process. Here we’ll outline what you need to know when taking a real estate listing with solar panels, including how to verify if they are owned or leased, what their value is, and how to determine if they are paid off or if there is a lien against them.
Verifying Ownership of Solar Panels
The first step in taking a real estate listing with solar panels is verifying ownership. The best way to do this is by reviewing the homeowner’s paperwork for any relevant contracts that explain who owns the system—the property owner or the leasing company. The lease agreement should specify who pays for repairs and maintenance, as well as who has access to the system data. It should also include an end date for the lease term so you know when it will expire. This information will help determine what type of contract needs to be drawn up between the seller and buyer.
What Is the Value of Solar Panels?
The next step in taking a real estate listing with solar panels is determining their value. One way to do this is by looking at comparable listings nearby that have similar systems installed on them. This will give you an idea of how much money potential buyers may be willing to pay for the home due to its energy-efficient features. You can also check out online resources such as EnergySage, which provides an estimate of how much money homeowners save by having solar panels installed on their property based on their location and other factors.
Another way to determine the value of solar panels is by looking at any incentives that may come with them such as tax credits or rebates from local utility companies. These incentives can add thousands of dollars in value if they are transferable between owners when a property changes hands. Verifying these incentives ensures that potential buyers know exactly what they’re getting into before making an offer on your client’s home.
Verifying That There Is No Lien Against Solar Panels
The last step in taking a real estate listing with solar panels is verifying that there is no lien against them. A lien means that there could still be payments owed on the solar panel installation if it was purchased rather than leased, so it’s important to make sure this does not apply before attempting to sell the home. The best way to do this is by requesting copies of all documentation related to the purchase or lease agreement from both parties involved—the homeowner and installer—and then verifying that all payments have been made in full prior to closing on the sale of your client’s home.
Taking a real estate listing with solar panels can be complicated but understanding its value and what comes along with it doesn’t have too! By checking ownership documents, researching comparable listings nearby, verifying incentives, and confirming that there are no liens attached, you’ll have all you need when selling your client’s home equipped with solar panels! With these tips in mind, you’ll be able to confidently take any real estate listing featuring energy-efficient features like rooftop photovoltaic systems!
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