Importance of a Phase I Environmental Site Assessment
An ESA's purpose is to classify any latent contamination in the soil and groundwater before buying the land. Its conclusions could either store or destroy a site. Land Owners need an ESA while buying or selling commercial real estate property. The article will take an extensive dive into the two most generally conducted phases of an Environmental Site Assessment and provide you with information on each of these phases and why we need them. Why have an Environmental Site Assessment! ESA is essential to decide if a property presents a debt risk. These ESAs help to recognize the hazards of contamination from such contaminants as petroleum, pesticides, and many such similar substances. ESAs also help lenders identify potential or actual contamination, compliance, or non-compliance with applicable laws and methods to deal with the identified contamination as the entire procedure continues. The priority is to conduct a Phase I ESA, and that too before a real estate deal is substantial an