You are interested in purchasing or leasing a commercial property and want to know if an environmental site assessment (ESA) is necessary when your lender requires it. Property DNA can attest that your Phase 1 Environmental Site Assessment is worth every penny. Finding out if you are purchasing contaminated land that has residual chemicals from pesticides, petroleum, herbicides or heavy metals from the previous owners or neighbours can completely change your plans and your budget. Avoid unwelcome surprises in the future and a potential loss of crops or business due to toxic substances that may be lurking throughout the property.
A Phase 1 ESA Includes:
- Reviewing Records
- Visiting the Site
- Conducting Interviews
- Evaluating Information & Reporting
Old Building Materials Such As Asbestos Need To Be Identified
Purchasing or leasing a commercial property often means that there may be plenty of issues or health concerns associated with building materials previously used and items that are no longer up to code. Times have changed and science has advanced. Many items including lead paint or asbestos could be contaminating the air, groundwater and soil. More environmental regulations are in place today to protect everyone’s health and wellbeing. Let Property DNA help you decode N’ analyze your potential property ahead of making a huge investment.
Due Diligence Is Priceless
Conducting an ESA is essential for due diligence and peace of mind is essential. Imagine finding out that the property you just purchased requires thousands of dollars of remediation to deem it safe and ready for business. This costly cleanup could drastically impact a business’ ability to stay open. Paying cash for a property may seem ideal at the time; however, don’t be surprised down the road if you need to borrow money for equipment or renovations when an ESA is required. Know the details of your groundwater and soil situation ahead of time and call Property DNA to get started.
What Happens During A Phase 1 Environmental Site Assessment?
A Phase 1 EAS is comprised of a visual and historical inspection, checking for evidence of current and previous contamination. This report is often a requirement for renewing property insurance, refinancing and financing, creating a baseline condition to establish a lease, helping a vendor expedite a sale and due diligence for a buyer. The environmental consultant is assessing items such as underground storage tanks that could lead to potential groundwater and soil issues in the event of a leak. Searches go back as far as they can with records to determine what the property and surrounding areas were used for in the past. Developments that are two to three decades older have a higher probability of contamination potential. Based on the results of Phase 1, a Phase 2 EAS may be recommended, where soil, structural and groundwater samples may be taken. Finding out if there is mold or chemical exposure is vital to protect your family and your employees.
Book Your Phase 1 EAS With Property DNA Group Today
Avoid uncertainty and protect your investment. Property DNA can help you identify baseline issues and give you the data you need to make an informed decision. We conduct Residential, Commercial and Industrial Site ESA’s. Call us today to book your site visit. We look forward to working with you for all of your residential, commercial and industrial needs.