Guidance for selling or refinancing a property with a PACE assessment.
Before you put your home on the market:
- Let your realtor know that you have PACE financed enhancements on your property.
- Discuss how these improvements may increase the value of your home.
- Highlight any on-going cost savings you benefit from, such as savings on your water or electricity bills.
- Determine the best way to handle your PACE assessment based on the market and the options described below.
Options to address paying for a PACE assessment:
- Transfer the PACE assessment with your property’s sale:* PACE financing is attached to your property, not to you. This means you have the flexibility of transferring the PACE assessment, which is part of your property tax, to the new homeowner when you sell your home. The new homeowner in turn gets the added value of the PACE financed home improvement and all the associated benefits such as energy efficiency, comfort, safety and savings.
- Payoff the PACE assessment.
You may pay off the PACE assessment for any reason, with no prepayment penalties. Simply contact us at 844-736-3934.
Depending on where you move, your new home may be eligible for a PACE financed home improvement.
*In certain situations, the PACE assessment may not be transferable. Please check with both your mortgage provider and the buyer’s mortgage provider to understand the options available.