Buying a house with solar panels – Checklist
□ Get copy of contract: lease, purchase, prepaid lease, purchase with financing etc
□ Get a copy of past 3 months’ utility bills
□ Get copy, if possible, of utility bills prior to solar installation
□ What utility plan is the home owner currently on and with whom?
□ Thoroughly read through and understand current utility bill: Does it have any net metering? Talk to the utility company to have them to explain the bill and the credits.
□ How long is the contract term?
□ Who maintains the panels? Who insures the panels?
□ Who repairs the panels and under what conditions?
□ What is the warranty on the panels?
□ What is the contact information of the transfer team? Who has been assigned to this specific home?
□ Get all contact information of the designated transfer team member who will assist you then transfer process.
□ Thoroughly read through the title commitment on the home. Is there any reference to a lien connected to the solar panels when it should be a UCC filing if leased? Be prepared to obtain language from the solar company to have any incorrect information removed from title.
□ Check to see if contract guarantees solar production.
□ Check to see if buyer’s lender is a direct underwriter and has option for holding with their underwriter.
□ Is the contract assignable again and again?
□ How big of a system is it? How many energy does it produce? (All in contract)
□ What is the monthly payment? Is there a yearly escalation clause?
□ What year, if leased, is the home owner in? When does the contract end?
□ What happen, per contract, at the end of the contract?
□ Is there a transfer fee? Is there a service call fee?
Homes for Sale with Solar Panel Phoenix AZ
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