Commercial R. E. - Environmental

Lenders require a Phase I Environmental Assessment on virtually every commercial property.  The exceptions are when environmental insurance is obtainable, or on small commercial mortgage loans.  Typically, the lender will order the Phase I.  Once the Phase I is completed, we'll review it to determine if there are any environmental issues such as underground storage tanks, asbestos containing materials, PCBs, hazardous substances, lead paint, or other issues.  We'll review the environmental company's recommendations, and discuss with you how to proceed.  This process usually covers the cost of remediation and the timing.     

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