Everything that you need to know about Phase 1 Environmental Site Assessment ASTM Standard
What is Phase 1 Environmental Site Assessment? A Phase 1 environmental site assessment ASTM standard is a comprehensive survey that follows ASTM Standards to estimate the environmental risk of a property. It is usually referred to as a “Phase 1 ESA” for short and it is a vital part of the real estate due diligence process. A Phase 1 Environmental Site Assessment researches historical and current land-uses of a property. Additionally, the report documents environmental liability and the likelihood of contamination. What Phase 1 Environmental Site Assessment actually does? A Phase I Environmental Site Assessment is done to investigate the current and historical conditions of a property as part of a commercial real estate transaction. The purpose of the report is to assess if current or old property uses have impacted the soil or groundwater beneath the property and could pose a threat to the environment and/or human health. If these problems are found, it presents a potential lia