SPECIALTY SERVICES, a division of SPECIALTY INSPECTIONS, specializes in our Commercial Inspections.
When making a Commercial Real Estate Purchase of land or of a commercial building it is often required by the lender to have an Environmental Phase I Site Assessment. Even if the lender is not involved and there is not a requirement on a commercial transaction it is highly recommended to get a Phase One Site Assessment.
Often when there could be known environmental hazards on a property the seller will offer "owner financing" in hopes of avoiding this lender required inspection.
The danger of purchasing a commercial property without an environmental site assessment can cause you (the buyer) to end of being the one responsible for a costly environmental clean up if you become the owner and later decide to build or borrow money on the property.
It is for this reason that lenders want to make sure a property does have this type of inspection before they lend money on it because if they lend money without the inspection and it is later found to have an environmental hazard history, they too could end up being responsible for the clean up if the new owner finds out and walks away.
The PHASE ONE SITE ASSESSMENT consist of the following areas of research:
- Historic Database Search
- Aerial Photo Research
- Interviews
- Property Historic Review
- Detailed Narrative Report, including pictures
- Report typically consist of between 100 and 200 pages
SPECIALTY SERVICES, has the qualified environmental inspectors on staff to serve you and answer any detailed questions you may have about this type of service.