Conducting Phase I Environmental Site Assessments

Obtaining a Phase I environmental site assessment (ESA) is essential to conducting environmental due diligence for commercial real estate transactions. The goal of a Phase I ESA is to evaluate readily available evidence to identify sources of potential environmental liability and risk for the subject property. Read this practice note to learn more about Phase I ESA under the American Society for Testing and Materials (ASTM) 2021 standards.

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Related Content

• Environmental Due Diligence in Real Estate Transactions
  Delve into this practice note discussing environmental due diligence in real estate transactions, which involves assessing known, potential, and contingent environmental liabilities and obligations associated with the subject real property.

• Environmental Site Assessments Letter Agreement (Lender to Perform Phase I)
  Refer to this letter agreement template for lender approval of a Phase I ESA performed by a consultant, which sets forth conditions the consultant must meet when performing an ESA on the lender's behalf.

• Scope of Work for Phase I ESA
  Use this scope of work template for a Phase I ESA prepared in connection with a proposed real estate purchase.

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