Thanks for the quick response. So, yes, if someone goes to a lender for financing for a commercial property, then they are required to get an ESA? That is great for environmental professionals.
Great question Jason. Partially because some people pay cash vs get a loan. But, ALL lenders will require a Phase 1 ESA. If a property is purchased with hard money or all cash - no entity is "requiring" it ... so that's usually what happens. Hope that helps.
Great video. Very comprehensive overview.
Thanks for the quick response. So, yes, if someone goes to a lender for financing for a commercial property, then they are required to get an ESA? That is great for environmental professionals.
Why aren't these ESA's required during the purchasing on a commercial property?
Great question Jason. Partially because some people pay cash vs get a loan. But, ALL lenders will require a Phase 1 ESA. If a property is purchased with hard money or all cash - no entity is "requiring" it ... so that's usually what happens. Hope that helps.
Since this is an expert related information, a property buyer don’t have this level of understanding and must therefore be protected
thanks for the video, are soil tests/samples part of the Phase 1?
No