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Buyer Beware-Benefits of a Phase I ESA

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When purchasing a property, whether it's for commercial or residential use, it's important to be aware of any potential environmental hazards that could impact the property's value or your health. This is where a Phase I Environmental Site Assessment (ESA) comes in. In this blog, we'll explore the benefits of a Phase I ESA and why it's important for buyers to be aware of potential environmental risks before closing a deal. What is a Phase I ESA? A Phase I ESA is a comprehensive assessment of a property to determine if there are any environmental hazards or risks that could impact the property or the people who use it. The assessment includes a review of historical and current land use, interviews with current and past owners, an inspection of the property, and a review of government databases and other sources of information. The goal of a Phase I ESA is to identify any potential environmental risks associated with the property. If any risks are identified, t