Everyone needs to start somewhere. Commercial investors are no different. Sometimes a commercial building is bought by a business owner because they need it for operations. Other times the commercial investors are buying the property to become a landlord. The building is inventory for potential renters. What do commercial investors need to know? If your
To answer the question of which is better, the Environmental Desktop Report (EDR) or the Record Search with Risk Assessment (RSRA) you must first know what each is. Environmental Desktop Report (EDR) This is a light form of environmental due diligence done by an environmental consultant to determine quickly what kind environmental risk is
When buying commercial real estate everyone knows about Phase 1 Environmental Reports. The Phase 1 ESA is the gold standard when it comes to environmental due diligence. Most investors don’t know that there are other options, less expensive options that are often better choices for determining environmental risk based on constraints of money and time.
When commercial properties are bought and sold it’s frequently done by someone who is new to the process. Chances are high that you are a first time buyer or seller. So once a contract is signed, or better yet, before a contract is signed, the question comes up, “ Who pays for the Phase 1
A Phase 1 ESA is mainly used to prevent the accidental purchase of a contaminated or otherwise environmentally compromised commercial property at a price that doesn’t take into account the environmental risk or impact. The strategies for purchasing a Phase 1 ESA depend on which party you are to the transaction. There are generally three
As with all things, prices may vary based on many factors but here at A3E our Phase 1 Environmental cost vary around $1900. But read on because there’s a lot that goes into the pricing of a Phase 1 ESA. How Environmentally Risky is the Target Property? The first thing we evaluate when pricing a
Risk of environmental contamination is the worst kind of risk for a business. Environmental risk is expensive but it’s expensive in more than just dollars. Let’s take a moment and explore the ways which environmental risk could adversely affect your bottom line. Financial Risk The motivating factor for environmental contamination concerns affecting profits is fear
An Environmental Site Assessment can refer to either a Phase I Environmental Site Assessment (ESA or Report), a Phase II ESA or just the ‘site visit’ portion of a Phase I ESA. If you are looking for information on the entire process of a Phase 1 Environmental Report, click through the link to learn more.
The term “Environmental REC” is shorthand for Recognized Environmental Condition. It’s frequently misunderstood by clients that have little experience with them as “an environmental wreck”. It means that an environmental professional has identified the presence or likely presence of hazardous substances or petroleum products in, on, or at a property being assessed due to 1)
Phase 1 Environmental Reports are not public information under most circumstances. If you were not party to the contract between the environmental consultant that did the work and the person (or company) that commissioned the project you will most likely not be able to see the results unless the person who paid for it shows