Are you planning to build a new house? Then, you may have heard about site investigation. This environmental due diligence will help determine your land's condition. It will help identify issues related to your site.
The excitement of buying land might occasionally eclipse the imperative requirement for careful due diligence when planning a future project. Nevertheless, neglecting this phase may result in unanticipated issues and financial hazards. Consequently, it is not only prudent but also required to carry out due diligence through an expert, such as a phase I environmental site assessment or stage 1 preliminary site investigation.
Starting a new construction project is exciting. However, things can escalate quickly. Perfect planning and assessment are essential for project construction. Here, a site investigation plays a crucial role in planning. It helps determine the ground upon which the project will be developed. With these investigations, you can ensure safe construction. This article explores the importance of these investigations. So, let us begin by uncovering them:
Indeed, CRE professionals frequently base their decision to pursue Environmental due diligence in BC only on meeting the needs of the lenders involved in certain transactions.
Environmental due diligence is often interchangeably used to describe the assessment and management of environmental liabilities and risks. The objective of this process is to make sure that the environmental regulations are observed by the landowner. Relevant environmental due diligence can also safeguard you, as a landowner, against dangers, including soil and groundwater pollution.
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Buying commercial or industrial land is great from a business investment point of view. As investment comes with some amount of risk. Similarly, when you purchase properties, there might be some environmental risks. When buying properties, the lender requests to perform an Environmental Site Assessment in BC (ESA) before moving ahead. If the result of Phase I isn’t enough, your business site might require Phase II inspection too.
When looking for a manufacturing site, one of the considerations that buyers have to make is whether to buy a greenfield or a brownfield. There are benefits to brownfields that you would want to take into consideration.
