Episode 1: Phase 1 & Phase 2 Environmental Impact Assessments

Environmental due diligence in real estate transactions begins with a Phase I, which assesses known, potential, and contingent environmental liabilities. It’s critical for a commercial property buyer to understand what constitutes a Phase I environmental site assessment, how it protects the buyer, and what it does and does not cover.

This podcast also shares insights as to when a buyer should transition to a Phase II subsurface soil and/or groundwater investigation to include related risk management strategies based on specific Phase I recognized environmental conditions.