Do I need to worry about environmental issues on a property I don’t know the history of?

Question

Katelyn Griner · Accepted Answer

Yes. Environmental due diligence is an important first step in understanding your total liability in purchasing an undeveloped or underdeveloped property. Many lending institutions require Phase 1 environmental site assessments prior to the lending of funds, and the due diligence provides better CERCLA liability protection if adverse environmental conditions exist.

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