Overview of Phase I Environmental Site Assessment (ESA)
The Phase I Environmental Site Assessment (ESA) is the first step in the Environmental Due Diligence (EDD) and environmental liability mitigation or quantification process. Most real estate transactions include the Phase I ESA as part of the EDD which is commonly conducted late in the overall due diligence process. BLDI’s guaranteed schedule of 10 Business Days or Free!™ helps clients get data on the environmental status of the property quickly to help keep the deal flowing. During the past 10 plus years, BLDI has conducted well over 700 Phase I ESAs with a schedule compliance rate of over 99.9%. Not only does BLDI have guaranteed schedules, but we are approved to do work for the most stringent lenders.
BLDI continues to improve its services to assure that the product fits into the needs of the overall deal structure. In many cases the Phase I ESA identifies Recognized Environmental Conditions (RECs) that require additional work to mitigate. BLDI's staff has significant experience in complex transactions which allows them to identify issues early in the process which many times mitigates "deal killing" problems.
As an example of the ease of use of the BLDI Phase I ESA process, our ordering and service delivery process starts with a 10-minute phone call to obtain the site information. Once we are engaged, the site walkthrough is conducted and a follow up phone call or email on the interim results is made. The report is then delivered within our guaranteed 10 Business Days or Free!™.
Call BLDI at 616-459-3737.
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