Phase I’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, aka the Superfund Act). If the evaluation is not performed, you could lose your right to defend yourself against future environmental liabilities.
It’s a Federal Requirement
A Phase I ESA adhering to the American Society for Testing and Materials (ASTM) E1527-13 “Standard Practice for Environmental Site Assessments: Phase I ESA Process” meets the Environmental Protection Agency’s (EPA) standard for “All Appropriate Inquiries”.
Information We Need
Before we start our investigation we need information to keep the process as efficient as possible (let us know if it’s not available). If provided after the Phase I is completed, additional fees may be incurred to incorporate into the final report.
- Client & Bank Name & Contact info
- Bank’s enviro due diligence requirements (If financing).
- Copy of the Property Survey or Site Plan (Older one is acceptable).
- Complete contact Information of current owner (include e-mail & phone)
- Complete contact information for all tennants (If rental).
- Complete Title Binder (Deed if binder is not available).
- Copies of historic Phase I’s or other Enviro / Eng Studies, Investigations done.
- Utilities information
Turn-Around-Time (TAT) & Pricing
We require three (3) weeks (15 business days beyond weekends and Holidays) to complete a Phase I which costs from $1,800 - $3,800. The price depends on acreage, number of buildings, commercial/industrial use, etc. The clock starts One (1) business day after receipt of the executed contract, deposit & receipt of the information we need.
But I’m in a Hurry
We understand sometimes deals are time sensitive and they need to be expedited. No worries, we can expedite a Phase I investigation. But additional fees will be applied to RUSH projects.
Need More Information?
Shoot us an email and we will help get you what you need to figure this all out.
Why Use GreenWorks
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.