Almost all commercial property that is purchased in the United States requires at the very minimum a Phase I Environmental Site Assessment (ESA). This assessment helps buyers and lenders understand the potential risk involved when purchasing a property. A Phase I ESA is a good place to begin as it will identify any possible...
Category: Phase I ESA
When is a Phase I Environmental Site Assessment Needed?
The scenario: You’ve found the perfect location for commercial property and you have decided it is the right time to purchase. It is an exciting time for the business, but when your contractor arrives he discovers an environmental hazard underneath your property. This could quickly become a costly error in judgment. Where it went...