

Environmental Site Assessments and Remediation | < Back |
If you are involved in a commercial or industrial real estate transaction, you will need an Environmental Site Assessment (ESA) in order to complete the sale agreement. All financial institutions require ESAs prior to advancing mortgage funds to finance properties. ESAs can determine a property’s probability of contamination in order to manage their environmental risks. Conducting an ESA can reassure you and your financial institution that the property you are about to purchase has no past or present environmental liabilities associated with it, such as unknown contaminated soil or leaking Underground Storage Tanks (USTs). ESAs can also identify the presence of hazardous building materials. | |
As a property buyer or building owner, you also need to be aware of current waste management and UST regulations. These regulations make it mandatory for you to evaluate and upgrade USTs, looking at factors like leak detection equipment, corrosion protection and containment systems to control unforeseen spills. | |
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Environmental Site Assessments and Remediation | < Back |
Most commercial real estate transactions today require an Environmental Site Assessment (ESA) in order to complete the sale agreement. This is a requirement of all financial institutions prior to advancing mortgage funds to finance properties. Financial institutions need to be reassured that there are no environmental risks associated with subject properties. Purchasers need to be reassured that they are purchasing a property with no present or future environmental liabilities attached to it. Safetech Environmental Limited (SEL) performs CSA Standard Z768-01 Phase I Environmental Site Assessments. | |