Selling your home can be complex, and if you have leased solar panels, you might be wondering how that affects the process. With Apollo Leasing, it's simpler than you might think! This post explains your options and how Apollo's unique lease structure makes selling your home easier.
Your Options with Apollo Leasing
When it's time to sell, Apollo Leasing offers flexible options designed to streamline the process:
1. Lease Transfer: The most common approach is to transfer the remaining term of your lease to the new homeowner. The buyer assumes the benefits of the solar system and the remaining lease payments. This is usually straightforward, especially with Apollo's shorter 5-year lease terms.
2. System Purchase (The Apollo Advantage): Remember, with Apollo, you have the option to purchase the system at a pre-determined, competitive price after just five years. This is a HUGE advantage when selling your home. You can buy out the system and include it in the sale, increasing your home's value and simplifying the transaction for the buyer. They get a fully-owned solar system, a major selling point!
3. Prepayment: You also have the option to prepay the remaining balance of your lease, this removes the monthly obligation from the new owner.
The Apollo 5-Year Lease: A Seller's Best Friend
Traditional solar leases often span 20-25 years, which can be a significant commitment for a potential buyer to assume. Apollo's 5-year lease term is a major differentiator:
Transferring Your Apollo Lease: What to Expect
While Apollo strives to make the transfer process as easy as possible, here's what's typically involved:
About the UCC-1 Filing (It's Not a Lien on Your Home!)
You might hear about a UCC-1 filing. This is not a lien on your house. It's simply a public notice that Apollo owns the solar equipment (the panels themselves). It's like a car title – it shows who owns the car, but it doesn't prevent you from selling it. The UCC-1 filing protects Apollo's ownership of the system, and it's a standard procedure. It will not prevent the sale of your property. We will handle all the details.
Tips for a Smooth Sale
Conclusion
Selling a home with leased solar panels doesn't have to be complicated, especially with Apollo Leasing's flexible options and shorter lease terms. The ability to offer a buyer a near-new, soon-to-be-owned solar system is a powerful selling point. Contact Apollo today to learn more about how we make selling your solar-powered home easy!