Thoroughly examine past activities, land use, and events associated with the site to identify potential environmental risks and liabilities.
On-site examinations and data collection assess current environmental conditions, identifying any potential risks or hazards related to the property.
A comprehensive analysis determines if nearby land uses or activities may pose environmental threats or liabilities to the subject property.
The process of pinpointing any known or suspected environmental issues that could affect the property, ensuring transparency and informed decision-making in real estate transactions.
Phase I ESA reports will benefit you by shielding industry professionals from unexpected environmental liabilities, safeguarding investments and financial interests, and adding value to a property by ensuring environmental regulatory compliance, reducing legal and financial risks, and streamlining real estate processes. Phase I ESAs are assessments conducted to identify potential or existing environmental contamination liabilities associated with a property. Adherence to standards such as those set by the American Society for Testing and Materials (ASTM 1527-21) ensures that these assessments meet the criteria established for environmental due diligence. In real estate transactions and property development, a compliant Phase I ESA is indispensable for informed decision-making, risk management, and ensuring the long-term viability of the property in question.
Phase I assessments encompass both present and past property activities, instilling trust and understanding among all stakeholders involved.
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