WHEN SHOULD A PHASE I ESA BE REQUESTED
The main situations when a Phase I ESA should be requested are:
When purchasing a property, even if the bank will not require one. In the end, the owner of the property is responsible of the environmental conditions.
When selling a property, in order to identify, evaluate, and potentially remediate any environmental conditions and avoid holding future transactions.
When asked by a bank or lending institution.
Prior to redevelopment activities, in order to avoid surprises during the construction activities, and subsequent delay and budget exceedance.
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