Difference between Phase I And Phase II Environmental Assessment

Monrovia CA

23 October, 2020

5:58 AM

Description

Environmental site assessment phases, as we all know, are commonly used terms for a real estate holding that classifies probable or existent environmental contamination liabilities. Addressing both the underlying land as well as physical improvements to the property, both phase I environmental assessment and phase II environmental assessment hold high importance. Here, in this blog, we would like to highlight the prime differences between Phase I And Phase II Environmental Site Assessments. Let us know further- Performing environmental site assessments is an essential part of due diligence as most of the time, questions regarding legal responsibility related to environmental concerns are increasing. The best part is that it helps to prevent damage to property transactions by providing both buyers and vendors with information about potential environmental hazards. The Phase I assessment works on framing complete details like documenting and checking with the property owners and others to compile information. Phase II assessments go in-depth, which includes even analyzing soil and water samples. Phase I Environmental Assessment was referred by CERCLA for determining liabilities for environmental contamination of real estate properties. This assessment can identify hazardous substances and highlight issues to landowners and genuine prospective purchasers and exempt them from liability. As per the Phase I ESA report, a Phase II ESA may be recommended by the evaluator, and they may conduct lab tests. Once** phase one environmental site assessments** ascertain a potential contamination risk that requires much more investigation, evaluators perform a Phase II Environmental Site Assessment Report. The Phase II ESA will confirm the presence of hazardous materials on the property, helping protect a potential buyer, lender, investor, or another interested party on the transaction from environmental liability.