Phase 1 Environmental reports are prepared for real estate and business transactions such as: land purchases, building purchases, leases, business purchases, new residential developments and bank loans. Our Phase 1 ESA reports are in general compliance with American Society for Testing and Materials (ASTM) Standard E-1527-13. This ASTM standard adheres to the Environmental Protection Agency All Appropriate Inquiries Rule, codified into the federal regulations by the EPA (40 CFR Part 312). This type of Phase 1 Environmental report is the one required by lenders and is highly recommended prior to purchasing commercial or industrial real estate, or prior to starting new residential developments.
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Phase 1 Environmental Site Assessment (ESA) reports should be conducted any time you purchase a commercial or industrial property. The Phase 1 ESA survey is also recommended when purchasing undeveloped, vacant land. If you are buying a house in or adjacent to a commercial area or next to a service station, dry cleaners or other environmentally sensitive business, you should also have a Phase I report performed on the property prior to taking title.
The main purpose of a Phase 1 Environmental report is to make sure you know the true value of the property and to assure there is no soil or groundwater contamination from previous use or neighboring sites that may be impacting the property's value or limiting its use due to regulatory-mandated cleanup, or in worse cases causing civil liability. This civil liability can be caused by human health exposure and offsite migration and devaluation of neighboring properties. This is something you don't want to learn about after you buy the property. The Phase 1 ESA is a common tool used for identifying potential significant environmental liabilities in the subsurface due to historical uses at or nearby to the subject property.
click below to see what is required in a Phase 1 Environmental report: