There are too many benefits when you do property condition assessment on your site. So if you’re still not convinced of conducting one into your site ...
There are too many benefits when you do
property condition assessment on your site. So if you’re still not convinced of conducting one into your site property? Then this is the time I would definitely say that you will be convinced because I’m going to tell you the benefits of a site assessment. A variety of actions can cause an Environmental Site Assessment (ESA) to be performed,
the most common being factors are:
1. Purchase of real property by a person or entity not previously on title or in a land or location where in it is the first time that it is going to be use.
- if you are the buyer of a land property that is not previously use, used to be a part of a secluded area or a mountain or valley, then it is important for you to take a Phase 1 ESA.
Mainly because you need to be assure that the area can handle your future business well and you’ll have a great working environment. Is it an earthquake zone or a wetland place? If yes, then you wouldn’t want to be there. Also, for new properties to pass ESA there shouldn’t be an endangered species on the secluded area that they had bought.
2. An important factor for a new lender’s decision making on providing or approving a loan on the subject real estate.
- Most banks and lenders will not approve loans on the subject real estate without its Phase 1 ESA report from a trusted environmental engineering service. And this is very understandable. For as a lender, they should also have the assurance that you can pay your loan by successfully working out your business in your property. And how can they possibly think that you can work your business out if they are not sure that the site it is built within is safe?
3. Partnership buyout or principal redistribution of ownership.
- For taking away properties and transferring it to another person a Phase 1 ESA is also important as to assured them. Phase 1 ESA is one of the most important document on transferring properties to partners or to a group.
4. An application to a public agency for sudden shift of use of the land.
- If you are the property owner and want to shift your business from a Paper producer plant to a real estate subdivision business, you definitely should need a Phase 1 ESA first before you can do this. Site inspections, scrutiny of lands and chemical/material sampling done by an industrial hygiene consultant are needed before you even go a step forward on your new business.
5. For clarifying suspicion of a regulatory or public agency on accusing the site of having toxic waste and hazardous materials.
- If there’s any complain on the subject property, then it is compulsory to have a Phase 1 ESA, especially if a report comes from a regulatory or public agency. If Phase 1 ESA will not be conducted on a suspicious property then property owner could face legal matters.
6. Property owner’s desire to understand toxic history of the property and to be assured that the property is safe.
- If this is the reason why you would like to conduct a Phase 1 ESA, then you are one of the great people in the business world. You value environmental due diligence the most. As a property owner it is your responsibility to assure yourself, more than anyone else that your property is safe and you understand its chemical or land history.
A Phase 1 inspection is an integral part to many commercial and industrial real estate transactions. Have your property and site consulted now! Click the website below and be assured that a professional geologist will conduct your Phase 1 ESA.
