Environmental Site Assessment the Best Option for Investment

If you're planning to buy or refinance a property you already own, you'll want to know that your money is well invested. One of the steps you must take to ensure that this is the case is assessing the property you plan to buy or refinance. An environmental assessment is the hard examination of the property to ensure that it is safe and that there are no risks associated with it, such as meld, asbestos, or contaminated soil.

Environmental Site Assessment is typically made up of two phases: Phase I and Phase II. Not all properties are going to have to undergo phases. For example, if you choose a Phase I assessment for your property and nothing is found to indicate environmental hazards, then you will not have to move on to the second phase. If, however, there is any indication that specific risks exist, a more detailed examination of the property will be necessary.

Phase I Assessment

A Phase I assessment of your commercial or home property is the first step you will take to ensure that the property is safe and worth investing in. When you select to go through with this, an

Environmental consultants will take a long look at the property to identify any hazards that might devalue the property and make it unsafe. It usually begins with testing for mold and asbestos. A Phase I assessment also often includes:

·         A review of property records to determine the property usage

·         An examination of surrounding properties to search the environmental risks

·         A review of local, state, federal, and tribal records about the property

·         A study of aerial photos to determine drainage and runoff

Phase II Assessment

If the Phase I assessment explains any indication of your property hazards, you will advise going through further environmental assessments. A Phase II assessment is the best step, and it's a more rigorous examination of the property. This type of environmental site assessment will require testing of the property's building materials, soil, and groundwater. In addition, Phase II assessment often includes:

·         Installing groundwater monitoring equipment

·         A chemical analysis of samples taken from the site

·         A remediation plan designed to remove the environmental hazards at the site

As you can see, Phase 2 ESA in Toronto and Ontario are essential in helping buyers and sellers understand just how safe property is. Suppose you're considering purchasing a residential or commercial property, and you want the peace of mind of such an assessment. In that case, you should contact environmental consultants in your area as soon as possible. Environmental issues can sometimes become very complex. When checking for environmental considerations, as inspectors for commercial real estate do, many lawyers recommend their clients to conduct a phase I environmental site assessment before anything else.

An environmental site assessment is essential. It involves studying both past and present activities that take place on a piece of land. It is meant to determine the contamination possibility on the site and the environmental impact that it may have if it spreads.

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