• By -

Important Procedures Had To Undertake A Particular Envirionmental Site Assessment: Important Steps Involved

Important procedures had to undertake a particular Envirionmental site assessment: Important steps involved

by

Sean Ivancich

right before commercial real estate is built, an environmental site assessment has to be carried out. Failure to carry out an environmental site assessment as a commercial real estate trader can be very pricey.

Even though most people don\’t find it required to completely fully grasp the steps concerned in environmental site assessment, it is critical to realize the entire method especially if you want to invest in commercial real estate. Some of the items one needs to understand include; the steps/phases concerned, the big difference between steps/phases e.t.c. Below are the three main steps/phases of environmental site assessment that must be followed to avoid future financial risk when buying and selling in commercial real estate.

Step 1 (Phase 1)

[youtube]http://www.youtube.com/watch?v=FYvSG6vUfs8[/youtube]

The main aim of Step 1 or Phase 1 is gathering information. In step 1, no physical tests take place. Environmental consultants use this step to collect information that helps in making a decision of regardless of whether or not to proceed to step 2 site assessment. The information collected from step 1 i.e. physical environmental samples such as soil samples provide ample information to conclude on issues like environmental contamination, poor soil/ground structure e.t.c. Such information is vital for commercial real estate traders to make final investment decisions.

It is important to note that the scope of Phase 1 assessment varies depending on the kind of commercial property in question. In summary, Step 1 or Phase 1 report includes; site inspections on house improvements, interviews with past owners, present owners, local officials/authorities, building/site plans, geology/hydrology and topography of an area e.t.c.

Environmental consultants in step 1 concentrate on investigating/looking for; petroleum hydrocarbons, asbestos, lead, radon and mold amongst any other possibly harmful substances/compounds. Step 1/Phase 1 assessment ensures that a property or site meets commercial real estate pre-acquisition requirements. At the end of step 1, environmental consultants have to give a verdict on regardless of whether or not to conduct further assessment.

Step 2 (Phase 2, testing Phase)

In case step 1 isn\’t conclusive, then step 2 or phase 2 is advisable. In this stage, physical samples compiled from step one are tested. Environmental consultants are responsible for recommending the appropriate testing procedures depending on the worries uncovered in step 1 about a commercial real estate property or site. Step 2 is usually advised to confirm step 1 findings i.e. if a commercial real estate house is unfit for investment purposes due to things like asbestos and lead poisoning, mold infestation e.t.c.

Step 3 (Phase 3, site remediation Phase)

This is the last step/phase of commercial environmental site assessment. Phase 3 is purchased primarily based on the testing results obtained in the testing phase. Phase 3 involves remediation or mitigation which is usually required by regulatory agencies/authorities. The criteria and techniques followed in Phase 3 vary according to regulations and a sites specific condition. In this Phase, regulatory closure can result if the risk assessment proves that there are potential receptors and contaminants in a given commercial house/site.

In summary, commercial environmental site assessment is vital to making sound commercial real estate ventures. Any serious investor must insist on possessing comprehensive environmental assessments done prior to investing to ensure that commercial real estate is safe. To get more information on environmental site assessment, go to our website.

{To learn more information on this topic please visit

Full Content

Article Source:

ArticleRich.com

Theme BCF By aThemeArt - Proudly powered by WordPress .
BACK TO TOP