Documents you need to complete
You have a right to a fair appraisal. Fannie Mae, Freddie Mac, and FHA guidelines require lenders to choose competent appraisers, i.e. those with the knowledge and experience required to perform a professional quality appraisal for your specific geographic location and property type. Refer to the following documents as you work with your lender to make sure you get the best value when selling a house with solar.
Read & fill out The Appraisal Institute’s Appraised Value & Energy Efficiency: Getting it Right to ensure your lender hires a competent appraiser.
This document acts as a guideline for communication strategies between buyers and lenders to ensure proper valuation for a home that has performance features. This document also holds the descriptions from the FHA, Fannie Mae, and Freddie Mac Guidelines.
Complete the Appraisal Institute’s Residential Green and Energy Efficient Addendum form. This should be presented to your appraiser. If you don’t have all the information for the form, contact your solar installer for information regarding those specifications
This is a form that can be filled out by the homeowner or certified contractor to report all relevant home performance upgrades, including solar system specifications. The form can support the appraiser in making a fair valuation of the home.
Print results from PV Value Tool
The PV value tool can be used by appraisers, homeowners and real estate professionals alike to get an accurate valuation of a home solar system. There are number of system details that you should know and other metrics where a default can be used and not significantly impact the stated value.
Have a copy of a completed Home Energy Rating System (HERS) report, this is valuable if available.