Phase 1 Environmental Assessment
If you’re involved in (or planning to be involved in) a real estate transaction, the entire deal could be delayed due to potential environmental issues. That’s why conducting a thorough due diligence assessment is critical! Without one, you could be held liable for any previous environmental issues (and cleanup costs) at the site.
The Environmental Protection Agency (EPA) has set the standard for “All Appropriate Inquiries” and a Phase I Environmental Site Assessment is the evaluation needed to conduct such an analysis into the environmental condition of commercial properties and / or sites that use federal grant money.
Phase 1’s, as they are commonly called, help landowners receive liability protection should contamination occur in accordance with the Comprehensive Environmental Response, Compensation, & Liability Act (CERCLA), also known as the Superfund Act. If the evaluation is not performed, you could lose your right to defend yourself against future liabilities.
GreenWorks specializes in conducting Phase I investigations on behalf of real estate transactions, mortgage divestiture and financial institutions. Rest assured, we have the environmental industry expertise needed to help you successfully navigate your next real estate transaction.
Have questions about Phase I due diligence assessments? Connect with us today and a highly qualified GreenWorks environmental advisor will set up a free, no-obligation consultation.