HOUSE-CHECK Building & Home Inspections by Roman Paul & Associates

"Delaware Valley's #1 Choice for Residential and Commercial Inspections" 610-933-4431

A Phase 1 Audit/Phase 1 Assessment...

can also be performed as part of your due diligence.  A Phase 1 Audit/Phase 1 Assessment, is often required by lenders prior to final loan approval or closing.  Attorneys generally recommend a Phase 1 Audit/Phase 1 Assessment in their client's best interest when their clients buy properties.

The receipt of an acceptable Phase 1 report can be used to guard you against assuming environmental liability as you assume ownership or occupancy of real property.  State and Federal Environmental Protection Agencies and Departments of Environmental Conservation as a matter of form hold the current property owner or tenant liable for the clean-up of any environmental hazard or incident on a property.  A property owner or tenant can be sued by nearby property owners and people who use nearby properties for illness or injury as a result of an environmental hazard or incident.  The statute of limitations on many environmental claims can extend to 25 years beyond your term of ownership.  Clean-ups routinely cost millions and illness and injury awards could be billions.

As a buyer a Phase 1 Audit/Phase 1 Assessment meets your legal requirement for environmental due diligence.  It firmly establishes the environmental condition of the property and the potential for contamination from nearby properties prior to your assumption of ownership.  If a defect is found you can elect to purchase the property regardless, require the seller or owner to assume the cost of clean-up or be released from the purchase contract.  A Phase 1 Assessment qualifies you for the 'innocent landowner' defense under CERCLA.

As a seller a Phase 1 Audit/Phase 1 Assessment serves to establish the environmental condition of property at the end of your term of ownership.

When you purchase or lease or sell an industrial or commercial property you don't want to assume current or future environmental liability.  A Phase 1 Audit/Phase 1 Assessment is the only way to uncover existing problems on the subject property and potential hazards migrating from properties nearby or even miles away.  Existing or potential environmental hazards can profoundly affect the value and price of any property you are buying or leasing.

We look forward to being of service.