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By Brenda Warner
When investing in the real estate sector, you need to identify all the required documents and certifications. All the documents are important and you must have them. In case the government finds you without any of these certificates, you will have to face the law. Certificates act like prove of an activity and they are used to show that you are a competent person. The phase 1 environmental site assessment is a document prepared for an investor to identify the potential or existing environmental impurity liabilities.

This plan changes depending on the state and the country. In Japan, for instance, the government established the law in 2003 that allows for regular conducting of this process. In Canada and Europe, the provisions are different. Make sure you familiarize yourself with these rules and provisions. Hire a private consultant to guide you in all these procedures. Some experts will prefer to work and bring you the results while others will involve you in the research process.

Interviewing any person who has knowledge about the land will help you acquire the information that will determine the decision you will make. The past owners, managers, present owners, tenants, and the neighbors are the reliable people who will give you the details you are want. List down all the information you receive from them and compare the results to come up with a sound judgment.

Check on the county and municipal planning file to identify prior usage of the land. These files have documents showing all the permits granted to the past owners of this property. The public agencies like the fire department, state water board, and the county health unit are also good sources of useful details relating to the property you are studying.

The rule still applies even if a previous owner caused the pollution. The aim of valuation at stage one according to the reasoning of the court is to come up with a safe plan called Innocent Landowner Defense. You can use the act to defend your innocence in court of law.

Experts have knowledge of the best tools and methods to use to get to a solution. Using a report that was previously conducted by the financial firm about the property could save you the cost of the research. Mostly the private developers prefer a report from a skilled and experienced individual.

The chemistry, geology, physics, microbiology, botany, and atmospheric skills are often required at this stage. The process involves a non-detailed study to obtain details. Scientists will determine the level of research needed at this stage and the tools to use. They integrate these disciplines during the research processes and derive at a sound judgment.

The due diligence of a property depends on its nature and value. Procedures used in researching for residential properties are different from those used in commercial real estate. The due diligence requirements are differ depending on the state and use of real estate. The usage duration of a property will determine the research method use.

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Facts On Phase 1 Environmental Site Assessment

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