It is standard practice for commercial mortgage lenders to require a building inspection prior to a property sale, but these evaluations have been lacking in one area. A building’s energy-use performance is rarely measured before the loan closes and the property sells. That is likely to change.
A task force formed by the American Society for Testing and Materials (ASTM) recently produced a new guide for evaluating a building’s energy performance. This should eventually help pave the way for energy assessments to become an automatic part of the due-diligence and loan underwriting processes.
Read the full article in Scotsman Guide to learn more on why energy assessments will likely become standard practice in commercial real estate deals.