If you’re thinking about selling your home, you’re probably wondering what happens to your EverBright solar agreement when you sell. Be sure to follow these steps before you sell your home to ensure a smooth sale.
Why Transitioning Your Agreement Matters
Your EverBright solar agreement is tied to you and your home. Before closing on the sale, there are steps you must take to confirm the new homeowner takes over your agreement.
How to Transition Your EverBright Agreement
- Notify EverBright Early
As soon as you decide to sell, let EverBright know. Contact us at least 30 days and no more than 90 days before closing. Early communication helps avoid delays during closing.
- Provide Buyer Information
EverBright will need the closing date and details about your homebuyer, including their contact information.
- Choose Your Option
Depending on the type of agreement, you have options:
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- If you have a Retail Installment Contract, or RIC, also known as EverOwn, you may:
- Pay Off the remaining balance. The new owner would then own the system free and clear as part of the home’s assets.
- Transfer the agreement to the homebuyer who must meet EverBright’s credit criteria and will assume the contract obligations including any repairs that may be needed.
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- If you have a Power Purchase Agreement or Lease, you have several options:
- Prepay the remaining balance. The new homeowner would then have no monthly payments, while EverBright would continue to be responsible for any system repairs, if needed, for the remainder of the agreement term.
- Purchase the system outright. The new homeowner would then own the system, have no contract with EverBright, and be responsible for all repairs that may be needed. Please contact our support team to confirm your purchase options depending on when you entered into your agreement.
- Transfer the agreement to the homebuyer who must meet EverBright’s credit criteria and will assume the contract obligations. EverBright will continue to provide any repairs, if needed, for the remainder of the agreement term.
- Complete All Documents
EverBright will guide you and the buyer through signing the necessary paperwork.
- Confirm Everything Before Closing
Ensure all steps are complete before the sale closes to avoid last-minute surprises and ensure a smooth transition.
Tips for a Smooth Home Sale
When you list your house for sale, be sure to:
- Highlight Solar in Your Listing. Buyers love knowing the home comes with built-in clean energy.
- Educate Your Realtor. A realtor who understands the process can confidently answer buyer questions.
- Schedule a Solar Walkthrough. Brief the buyer. Offer to explain how the system works and how to access the equipment and components. A quick demo and sharing EverBright’s resources can help the buyer feel supported and excited.
The Bottom Line
Homes with solar panels can attract more interest from buyers who value predictable energy costs and the ability to produce their own clean energy. By understanding and following the contract transition process, you can ensure a smooth home sale and seamless solar changeover to the new homeowner.
Ready to start your transfer? Visit http://www.goeverbright.com/home-transfers or contact EverBright Customer Support at (877) 425-5201 today.