Environmental Due Diligence
What is an Environmental Site Assessment?
Phase I ESA, Phase II ESA, questionnaires and transactions screens are all included in Environmental Due diligence. An ESA can take many forms, and will dependent upon the transaction type and risk of the property.
Our staff’s comprehensive experience includes the ASTM, federal and state regulatory agency, and industry standard procedures and regulatory framework that are required by the Small Business Administration (SBA) and most commercial lenders, regardless of the known past history of the site, performs environmental site assessments (ESAs) and cleanups for private and government projects at commercial properties, industrial, and manufacturing facilities.
Phase I ESA and Phase II ESA
An ESA is a report prepared for real estate agencies and/ or property owners which identifies potential or existing environmental impact liabilities. The analysis, often called an Environmental Site Assessment Phase 1 ESA, Phase 2 ESA, typically addresses both the underlying land as well as physical improvements to the property.
When is the best time to have an Environmental Site Assessment done?
It is important for the seller to provide all key environmental documents for the property like; existing Phase I ESA or Phase II ESA, environmental permits, regulatory permits, records, and reports. It is also important to have an ESA done early on during the transaction or even better, before the transaction of the property.