At Champia, we do more than Atlanta home inspections. We perform a variety of commercial property inspections based on the needs of our clients. We can also conduct a Phase I Environmental Site Assessment (ESA), either alone or in addition to our Standard Commercial Inspection of Property.
The purpose of a Phase I ESA is to determine the potential for contamination by hazardous or toxic materials, and to identify other possible environmental constraints on the site. It does not generally involve any sampling or analysis. However, it will be used to determine if such analysis is needed (such as a Phase II ESA). The ESA is not an Atlanta building inspection. It is done on the property itself, rather than any structure(s) on it.
When and Why is a Phase I ESA Necessary?
A Phase I ESA is often required to obtain a government loan. The U.S. Department of Housing and Urban Development (HUD) requires an ESA for any Federal Housing Administration (FHA) projects. HUD will not approve an FHA project for a condominium development without a Phase I Environmental Site Assessment if it is a new development, under construction, or a newly-converted gut rehab.
The Federal National Mortgage Association, or Fannie Mae, may also require a Phase I ESA before it will provide funding for a condominium development. It depends on how the site was used in the past.
Even if your lender does not require it, it is best to have a property analyzed before you invest any money in it. A Phase I ESA by a licensed commercial inspector is essential to ensure that you will not be liable for someone else’s hazardous waste materials.
Why Choose Champia for your Phase I ESA?
Like our home inspectors in Atlanta, our commercial inspectors have years of experience. They are fully versed in Georgia’s commercial building requirements. Our commercial inspectors are specialists in environmental auditing. They provide our clients with all the reports needed to satisfy Phase I Environmental Site Assessment requirements.
A Phase I ESA is an important element of your commercial building investment decision. When you arrange for your commercial property inspection with Champia, we can easily add on a Phase I ESA. It could end up saving you millions of dollars in potential fines and litigation. For more information on all of our commercial inspections, including our Phase I ESAs, go to http://champia.com/commercial/109-2/.
Part two of the series will cover the steps involved in a Phase One Inspec