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Solar Panel Leases: How To Avoid Escrow Headaches

Solar Panel Leases: How To Avoid Escrow Headaches

There’s a process for transferring solar panel lease ownership during the sale of a house. I’ve handled my share of escrows involving solar panel leases, and there are a few key things for both buyers and sellers to know in order to avoid escrow delays.

Here are tips for both sides:
Sellers:
1. Notify your solar company that you are selling your house and will be transferring ownership. Confirm the company’s requirements and handle any immediate paperwork. Determine how many days the company will need to approve and complete the lease transfer.

2. Have your agent open a pre-sale escrow and request the preliminary title report. Check the prelim to make sure it includes a financing statement and lease under the exceptions to title section. Review the docs that are on file and make sure they are accurate.

3. Include the lease and key information for buyers in the disclosure package.
4. Contact the solar company once you’re in contract and update them on the closing date. Continue Reading

Get in touch:

Eileen Bermingham

Corcoran Global Living

415.823.4656

eileen@insidesfre.com

DRE# 01352627

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