Environmental Considerations for Real Estate

We often perform Phase 1 Environmental Assessments prior to property foreclosure. The Phase 1 Site Assessments are key in obtaining the CERCLA liability protections, which are afforded by following the current ASTM standard for conducting Phase I ESAs. But the ASTM standard scope of work does not require an assessment of issues pertaining to asbestos, mold, lead-based paint, etc. Prior to taking title to a property through foreclosure, it is prudent to have your consultant address these issues to help provide a bigger picture of the potential problems that could be inherited.