Top Advantages of Environmental Due Diligence
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.
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.
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.