Lenders and property owners should be aware that there are several types of very distinct environmental closures.
We are often asked the difference between the Environmental Transaction Screen or ETS and the Environmental Site Assessment or ESA.
We request that access to all portions of the Property be provided in order to ensure that a thorough and complete environmental assessment of all possible environmental conditions is complete. Most lenders will require that there are no gaps in the site visit observations.
Asbestos is a very common constituent of building construction materials and is in most buildings in some quantity.
No… You are not required to submit either one of these reports to an agency, these due diligence reports are considered to be confidential with the person or company that contracted the project.
Off-site contamination or the threat of potential off-site contamination can seriously affect the financibility of a property.
Completion time on a Phase II is affected by various factors.
Cost for a Phase II project can vary drastically depending on the scope of work.
The level of due diligence is what separates this two type of reports.
An ETS usually requires approximately 5-7 business days.
The most important factor is the nature of the site itself.