BrokerageIndustry News

Red flags with ‘green’-certified real estate

Inaccurate disclosures can spark litigation
Published on Jul 7, 2011

What is "LEEDigation"? According to Chris Cheatham, who coined the term, LEEDigation refers to legal disputes arising from green-building certification.Leadership in Energy and Environmental Design (LEED) is a certification system developed by the U.S. Green Building Council in 2000 for constructing buildings with a smaller environmental footprint.What green-building trends mean for you, as a real estate professional: another level of disclosure requirements that can expose you to increased risk and litigation. The real estate industry is "greening" rapidly, and there are even energy-efficient mortgage programs to aid buyers in financing the purchase of an energy-efficient home. There are There are also tax credits available for energy-efficient upgrades to homes, and many owners are electing to conduct home energy audits to determine which upgrades can produce the best results. Some upgrades can be costly -- a geothermal heating and cooling system can cost a...

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