Getting Transaction Screen Environmental Site Assessment

A Transaction Screen Assessment is a lucrative environmental due diligence report that's also termed an Environmental Transaction Screen. It is essentially a subdued version of the Phase I Environmental Site Assessment.

Transaction screen environmental site assessment confirms administrative records, includes personnel interviews, and a site visit meeting the guidelines set out by the ASTM Standard Practice. However, it does exclude following the EPA's All Appropriate Inquiry (AAI) requirements.

Requiring An Environmental Transaction Screen -

ESAs of real estate assets are required in many situations in the USA, including:

• While buying and changes in ownership

• When a property is purchased or sold

• While changes in permitting occur

• When a lender thinks giving a loan for real estate

• When mandated by a regulatory company

Besides, there are situations where an ESA is advisable, like during the evaluation of property for purchase or when an owner wishes to know more about their property's current state.

Environmental Transaction Screen Specifications:

• It must meet the SBA Standards.

• In Five-seven Business days from inspection

• In seven Business days from file review (EFR)

• Done as per ASTM E1528-14

• Confined environmental analysis of a property with the range of work meant to be less than that of Phase I ESA

• Site examination – subject property and surrounding lands

• Reports Review (physical setting sources, city directories, historical information on the subject property)

• Professional guidance

• Full search range

• Done to classify Potential Environmental Concerns (PEC)

• The extra cost for ETS with Enhanced File Review (EFR)

The environmental companies in the USA use TSA for low-risk environmental due diligence, where a Phase I ESA is initially considered irrelevant by the User. The Transaction Screen Assessment starts with finishing the Transaction Screen questionnaires and handling limited research using a single governmental record source. Though Phase I ESAs have become usual practices for almost all commercial property loans in recent years, Transaction Screens' effectiveness has become more prevalent as purchasers of property are looking for faster, more cost-effective alternatives to Phase I ESAs.

If the need for environmental due diligence is a wish to pass for one of the CERCLA LLPs, one should not apply this practice. Instead, the recent ASTM E 1527 Standard for Environmental Site Assessments—Phase I Environmental Site Assessment Process—should be practiced.