Due Diligence Environmental Site Assessment Know More

1. Due Diligence Environmental Site Assessment Know More Whenever a person is into buying or selling commercial real estate, a due diligence environmental site assessment - will be a crucial tool for managing risks and avoiding liabilities. Wha? i? Du? Diligenc? Environmenta? Sit? Assessmen?? Environmental due diligence is a means to evaluate real estate for probable risk of environmental contamination. It may include soil or groundwater contamination. Environmental Protection Agency (EPA) has set the base with Standards for conducting environmental due diligence. Expert Environmentalists professionals determine the extent and type of assessment warranted, which varies based on the property. CERCLA - Comprehensive Environmental Response, Compensation, and Liability Act has set a process to conclude who is accountable for hazardous elements. The act entitles regulators to fine property owners and orders the removal of hazardous substances at the owner’s cost, even though they are not liable for the contamination. The benefit it holds is it can protect buyers from the potentially undermining environmental liabilities under CERCLA, even if contamination is discovered after the purchase is made. Environmental due diligence through a Phase I Environmental Site Assessment (ESA), marks the beginning of the investigations.

2. Wh? w? nee? Environmenta? Du? Diligenc?? Besides liability protection, environmental due diligence is much useful for Buyers. Buyers can assure they get the best investment amount for a property per the details of the assessment. Buyers can negotiate an equivalent reduction in the price of the real estate or choose not to purchase if the results show contamination. Also, a Seller knowing the fact of contamination in property may be able to decrease the potential value of their sale & the financial cost of remediation by finding old insurance policies that don’t include an effective pollution elimination. Therefore, please do your due diligence, and do it well. The purpose is to protect buyers against high-priced environmental liability and preserve the property value in real estate transactions. Wha?’? Include? i? Environmenta? Du? Diligenc?? A Phase I Environmental Site Assessment is a common thread in EDD involving a property transaction. A Phase 1 ESA determines whether a property’s current or past use has contaminated the soil or groundwater that probably would damage the environment or create a health risk. Such effects affect property values and hit an owner’s liability. The process is carried by experienced, skilled, and knowledgeable environmentalists. Some Environmental” also serve as commercial construction firms. The benefit they serve is coordinating/leading contractual negotiations & even qualifying and soliciting proposals from architects, engineers, and general contractors to achieve value engineering. Environmental Consultant companies such as “Fulcrum Resources Connect with an Environmental Consultant firm before making a commercial real estate transaction.