PHASE I ENVIRONMENTAL SITE ASSESSMENT (ESA):
A Phase I ESA is a part of the due diligence process associated with a real estate transaction that assesses the environmental condition of a property through collection of pertinent information, both current and historical. Phase I ESAs investigate potential and existing environmental conditions of a property in order to identify associated liabilities.
VET’s Team of environmental professionals provides in depth, comprehensive Phase I ESAs in accordance with the American Society for Testing and Materials (ASTM) E1527-13: Standard Practice for Environmental Site Assessments in order to fulfill due diligence requirements when engaging in commercial or industrial property transfers.
Why is it important to commission a quality Phase I?
It is of the utmost importance that both the buyer and seller fully understand the status of a property to fully understand the associated liabilities.
How long does a Phase I ESA take to complete?
Under normal circumstances, VET can complete a Phase I ESA within three weeks of receiving a signed contract. Rush delivery on reporting may be available on a case-by-case basis.
What is involved in the Phase I process?
VET will perform a site walkthrough of the property in question, take photographs, and ask questions. We will contact individuals that may be familiar with the property to conduct interviews. A chain of title and city directory search will be performed if these resources are available at the local government. We will then prepare a hard copy and electronic copy report and provide both upon completion.
VET offers investigative services into non-scope issues not typically addressed during a Phase I ESA. Additional services requested by our clients include:
Indoor Air Assessments
Vapor Intrusion Evaluation
Lead Based Paint Assessment
Please use our convenient submittal form to request a cost estimate for due diligence services or contact us at 812-822-0400.