Phase I Environmental Site Assessment reports are prepared for real estate and business transactions such as: Land purchases, Building purchases, Leases, Business purchases, Baseline studies, New development, and Bank Loans. The purpose of a Phase I report is to identify environmental conditions prior to entering into a contract for sale, re-financing, or option agreement, and ultimately to assist property owners to choose a site that presents manageable environmental risks.
All Environmental Site Assessments (ESA’s) are qualitative assessments intended to help owners of property satisfy one of the requirements to qualify for Comprehensive Environmental Response, Compensation and Liability Act of 1980 (CERCLA) innocent landowner defense. Since the 1980’s, it has also been incorporated into the environmental policies of most lending organizations as a requirement of any loan application involving a parcel of commercial real estate.
Our Phase I ESA reports will adhere to the American Society for Testing and Materials (ASTM) Standard E-1527-05. This ASTM standard adheres to the All Appropriate Inquiries Rule, codified into law by the Environmental Protection Agency (40 CFR Part 312). This is the type of report that is required by FDIC-member banks and most other lending institutions. Even if you are paying cash for a property, we highly recommend ordering a Phase I report prior to purchasing any property.
Dillterra offers fast turnaround times, usually within one week, and competitive pricing.
