It is a risk issue. The importance of due diligence for any property cannot be overstated. Environmental due diligence addresses specific property issues such as hazardous substances, wetlands, endangered species, critical habitats, cultural resources, or regulatory audits. Some lenders may require an environmental site assessment (Phase I ESA or Phase II ESA), and there are more compelling reasons to get one (for example, when purchasing a service station, dry cleaner, auto repair, or manufacturing business). If you don’t get one, you’re probably doing yourself a disservice because any problem could result in catastrophic liability exposure for you, even if you didn’t cause the problem.
Call us even if you have completed the Phase I or Phase II ESA and need an opinion. We will not charge you, saving you thousands of dollars in sleepless nights and legal fees.