Environmental Site Assessment: Why is it required ?
Environmental Site Assessment (ESA) helps in due diligence, pre-purchase, financing, and development approval purposes. Each type of ESA report has a distinct validity period. After a certain period, ESA reports do expire! Both Phase I environmental site assessment and II ESA are done for land development purposes. On a Municipal Development Approval, these Reports will be provided to the Municipality for evaluation, as part of the Development Approval Application method and to confirm the filing of a Record of Site Condition (RSC), if required. When doing a property transaction, it is apparent that the ESA Reports will be given to a Lender for the mortgage pre-approval process. It can also be provided to a potential purchaser upon completing a conditional or final Purchase and Sales Agreement. Learning the records of a property, its prior uses, and the potential presence of contamination are essential pieces of knowledge every buyer should have. The companies conduct the following