It is of no surprise that investing in the real estate business is always daunting and risky. However, the returns on the respective investments depend on several factors such as the change of market value, location, loan terms, tenants, natural hazards, soil type, and much more.
Amidst these scenarios, one of the major concern or risk related with the property is environmental liabilities, which have enormous impacts on the financial ramifications for the business heads, and moreover, can affect the ability to utilize or lease a property. And this is the reason why you need to conduct the environmental site assessment beforehand.
There are various critical steps associated with the phase I ESA, which will mainly focus on the structural integrity, location, as well as on the value of your commercial property. But, every time, make sure that you choose authentic organizations, which can perform seamlessly without any error and negligence. Here are some facts, which can tell you why phase I environmental site assessments are important today.
Reduces business risk factors
In most of the cases, property owners overstate or ignore the condition of the surrounding, which later leads to bad consequences in the future. However, the most important thing to consider is the contamination level, which always increases to the respective level of the CERCLA liability. CERCLA liability can be devastating or dangerous to the landowners, which will surely put the individuals into an immense number of problems.
In addition to this, the localized soils, as well as the groundwater contamination, are some of the critical factors that need immediate actions before you delve deep into the process of construction. And these things can be easily managed by the professionals who are well-acquainted with the phase I environmental site assessments tests. Moreover, they can quickly resolve the issues by conducting surveys and warehouse study.
Fulfilling the lender requirements
When it comes to real estate business, there are many things individuals need to understand before handing over the property to the concerned tenant. However, while dealing with the commercial real estate properties, it is obvious that lenders will ask you many questions regarding the surrounding, soil type, geographical setting, groundwater depth, historical facts, and much more. Thus, every time, you need to get prepared to clarify the doubts and instincts of tenants or lender.
Are you getting tensed? Don’t you have enough information about your land? If not, then conduct one phase I environmental site assessment test, which will certainly clear all the misconceptions, and will also help you to answer the questions of the lender. Experts will give you detailed data about the contaminated property, and moreover, will suggest you tip to improve the condition of the land.
Better environmental survey
No matter where you are buying a property. If contamination is observed in your land, then it would lead to severe consequences with the pace of time, if not treated perfectly before the deadline.
Indeed, there are numerous solutions to manage the contamination of water and soil in your land, but, you need to choose the best one out of many, which will not only satisfy your requirements, rather will also provide genuine facts and figures about your property’s soil quality, surround effects, and future risk factors. Phase I environmental site assessments test is the wisest way to deal with such issues. For more information Email us here: email@example.com