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Real Estate Sale Stalled by Non-Compliance with Energy Disclosure Law

Energy disclosure is proving to be critical to real estate transactions as failure to comply with AB1103

AB 1103—California’s energy disclosure law which requires commercial building owners to benchmark and disclose a building’s historical energy usage prior to selling, leasing or financing the entire building—is causing some issues for real estate transactions. I just took a call from a client needing an emergency Building Energy Disclosure Report, as their buyer refused to close without it! Unfortunately, these reports can’t be delivered instantly. While we’re of course rushing to get it done so that the client can complete the transaction, very short turnaround times can be problematic.

Continue reading the GlobeSt blog here.