Understanding the need and relevance of environmental site assessment!

Understanding the need and relevance of environmental site assessment!

Commercial property investments are subject to a number of risks. Add to that, most investors need assistance with mortgage refinancing and lending. For all of that and more, environmental site assessment is a complete must. Done through Phases I to IV, together this is known as Site Rehabilitation. Phase I study is particularly important because banks and financial institutions demand so, especially to facilitate mortgage refinancing. Below are some of the aspects worth knowing about all the four phases that eventually matter.

Getting Phase I Environmental Site Assessment (ESA)

The whole purpose of Phase I ESA is to understand and report the environmental state of the commercial property. It takes into account all the past, present and possible sources of contamination, so that buyers and lenders can take a sensible decision. Buyers need to understand that Phase I ESA is not just about getting a report or convincing the lender, but more about knowing the true value of the property. You can check for Ortam Group environmental site remediation, which is affordable at every phase.

Phase II, Phase III and Phase IV assessment

To the conclusion of Phase I, Phase II Environmental Site Characterization can be recommended, which finds the presence of possible contamination. This is done by taking samples of soil, which are further tested in a lab. If contaminated soil is found, Phase III Environmental Site Characterization will be conducted, which determines the zone of actual contamination. The final step of this is a Phase IV Environmental Site Remediation, which is about removal of underground tank and adhering to the environmental standards for the region. Typically speaking, contaminated soil is usually removed and disposed as per norms.

Finding a company

There are a bunch of companies that specialize in environmental site assessment, but don’t settle for the cheapest one. The right company should be able to guide you from Phase I to Phase IV as required, and they must do it in compliance to the norms. Don’t shy away from asking questions or checking some of the reports. In case of Phase I environmental site assessment, the time taken for the job is particularly important, mainly because investors and buyers need to submit the report to the lender. As a client, you can hire a company for environmental site assessment based on their experience, and for that, you can always ask for references.

Check if the company can handle removal of oil tanks and relevant services that are required for site rehabilitation.

Categories: Home Improvement

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