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Phase 1 Environmental Site Assessments and Due Diligence 101

During the acquisition, refinance or foreclosure of a property, it is important to understand the asset’s potential environmental liability in order to protect your investment and to weigh the risks associate with that investment. This means making sure that there is no major environmental liability associated with the current or past use of the subject property. There are a few due diligence steps that can be taken in order to assist in doing this. The most common due diligence product is a Phase 1 Environmental Site Assessment. The Phase 1 ESA is governed by ASTM and EPA guidelines.

It is important to know what due diligence products are available and what each one entails. What is a Phase 1 ESA? Why is a Phase 1 ESA done? How is it done? How long does it take? How much does it cost? What happens if one is not done or it is not accurate?  What are my options other than a Phase I ESA?

These are all questions that can be answered by Partner’s Jenny Redlin and Joe Derhake in their recent presentation, Due Diligence 101: Third Party Reports from A-Z. This presentation was recently aired by and is offered on demand until July 2nd, 2013. Registration