Hello, I hope you are having a wonderful day!
Your day is about t0 get even better now that you are reading my blog. The blog
topic for today is all about site assessments. I was in an environmental science block class
in high school. We briefly went over these site assessments in class so I have
a little bit of background with it. In the united states an environmental site
assessment Is a type of report prepared for a real estate place that identifies potential or
existing environmental contamination liabilities. The analysis, often called an Environmental Site Assessment, typically addresses both the underlying land as well as
physical improvements to the property. There are 3 types of environmental site assessment.
The first one I am going to talk about is phase 1 assessment. There are many
reasons for a phase 1 assessment to take place. Some of these reasons are…
Purchase of real property by
a person or entity not previously on title .Contemplation
by a new lender to provide a loan on the subject real estate .Partnership
buyout or principal redistribution of ownership. Application to a public agency for
change of use or other discretionary land use permit. Existing property owner’s
desire to understand toxic history of the property. Compulsion by a regulatory
agency who suspects toxic conditions on the site. Finally, divestiture of
properties.
The phase 1 assessment is basically the first step in the
process. You can’t have a phase 2 assist without first conducting a phase 1 assessment.
Some of the things a worker will do while conducting a phase 1 assessment
include but are not limited to…inspection of the site. Using your eyes to spot
problems. Investigate prior records to spot problems there. And finally conduct
interviews with previous owners of real estate property to find problems.
In conclusion, all three of the environmental site assessment feed off each other. You can’t have a phase 2 without a phase 1. To learn more about these site assessments. Click on the link below.
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