Most the lenders will require Environmental and Structural Due Diligence or Assessment performed for commercial real estate transactions in the United States. Based on the findings of these assessments, lenders can negotiate the loan amount, rate or simply deny the loan, similar to home inspection. The American Society of Testing and Material (ASTM) has provided guidelines for conducting Environmental and Structural Assessments. This module provides details about Phase II Environmental Site Assessment (ESA) and their purpose.
After completing this Module, you will be able to:
- What is a Phase II Environmental Site Assessment (ESA)?
- Why these assessments are required.
- Related regulations and Overview
- Phase II ESA Scope and Example