When you hire an investigator to conduct a Phase 1 Environmental Site Assessment (ESA), you’re buying assurance, confidence and peace of mind. It’s hard to put a price tag on that.
It’s always prudent to watch your budget, but if you’re considering purchasing property in New York or New Jersey, skipping or skimping on a Phase 1 ESA may not be a cost-effective plan. You can spend a little now and know where you stand, or you can take your chances as to whether your prospective property is contaminated.
Are you sure you want to take that risk?
It’s a cost of doing business.
A Phase 1 ESA is a smart investment. You – and your lender – need to make a competent, informed decision. If you rely on the seller for this critical data, how do you know you’re getting the full story?
A Phase 1 ESA protects you.
The purpose of the study is to determine the presence – or possible presence – of hazardous substances or petroleum products in the property’s soil, ground water or structures. It’s like insurance, cloaking you with an “innocent landowner” designation that can relieve you of responsibility for remediation procedures, potential fines and ongoing oversight if contamination is discovered later.
A Phase 1 ESA protects you before you finalize your purchase and also down the road, as owner and when you decide to sell the property.
You get what you pay for.
You might save money by hiring an under-qualified investigator to conduct your Phase 1 ESA. But your report may not be 100% complete or accurate. Are you sure you want to take that risk?
Pick a environmental engineering firm that’s well-established and well-experienced with Phase 1 ESA and other aspects of hazardous contamination discovery and remediation. They know the science, and they understand the nuances of “all appropriate inquiry,” to elicit all necessary information about your property’s history and present condition.
You’ll get a comprehensive report with professional analysis, insight and recommendations, a report without errors or omissions that could cause problems later on.
A Phase 1 ESA isn’t an in-depth scientific study but it defines your potential future liability. In that light, the cost is low compared to the fundamental importance of what you’re getting. Besides, it only takes two or three weeks to complete. That’s time well spent and an investment well worth making.