What is Real Estate Due Diligence?
Introduction to Real Estate Due Diligence
Real estate due diligence assessments have become a critical step for lenders, property owners, and prospective buyers to identify environmental risks associated with real estate transactions. These assessments ensure compliance with environmental laws and prevent costly liabilities.
At Get Phase 1, we provide comprehensive environmental due diligence services that meet ASTM E1527-21 and regulatory compliance standards, ensuring risk-free transactions.
Who Needs Real Estate Due Diligence?
- Lenders & Financial Institutions (to mitigate environmental risks before financing a property)
- Real Estate Investors & Developers (to assess property viability and avoid liabilities)
- Property Buyers (to ensure they are making informed decisions before purchasing)
Real Estate Due Diligence Services
Your Trusted Partner for Real Estate Due Diligence in New York
Real Estate Due Diligence in New York is a critical step for lenders, property owners, and prospective buyers to assess potential environmental liabilities associated with real estate transactions. The environmental assessment process is divided into distinct phases, with Phase I Environmental Site Assessments (ESAs) serving as the initial step in identifying Recognized Environmental Conditions (RECs) on a property.
At Get Phase 1, we specialize in conducting Phase I ESAs in full compliance with ASTM E1527-21, ASTM E1527-13, and 40 C.F.R. Part 312 (Standards and Practices for All Appropriate Inquiries) to ensure accurate, industry-standard evaluations.
Why Choose Us
Why Choose Us for Real Estate Due Diligence?
50+ Years of Combined Experience
Industry leaders in environmental assessments
ASTM & SBA Compliant Reports
Ensuring regulatory adherence for smooth transactions
Fast & Reliable Turnaround
Meeting tight deadlines for lenders and buyers
Comprehensive Risk Assessment
Identifying hidden liabilities before purchase
Client-Focused Approach
Trusted by investors, lenders, and developers
Phast 1 ESA
Phase I Environmental Site Assessments
A Phase I ESA is typically conducted when a general environmental review of a property is required. This assessment provides a comprehensive evaluation of past and present land use, potential environmental concerns, and historical site data.
Historical Records Review
Examination of official records to determine past ownership and land use.
Site Inspection
On-site visit to document current site conditions and identify potential concerns.
Operational Review
Assessment of current business activities and any chemicals utilized or produced on-site.
Regulatory Agency Research
Investigation of permits, violations, and compliance history from relevant environmental agencies.
Interviews
Engagement with past and present property owners, tenants, neighbors, and other stakeholders.
Aerial Imagery & Maps Review
Analysis of historical site maps, aerial photographs, and city directories (if available).
Hydrogeological and Water Table Assessment
Review of groundwater quality, nearby wells, and previous geological studies.
FAQs
Common Questions About Real Estate Due Diligence
A Phase 1 ESA typically takes 10-15 business days, depending on the size and complexity of the property.
No. A TSA is a more limited screening tool, used for properties with minimal risk. A Phase 1 ESA provides a detailed assessment and is required for SBA loans and high-value transactions.
If environmental risks are identified, we may recommend a Phase 2 Environmental Site Assessment (ESA) for further testing, soil sampling, or remediation.
TSA
Transaction Screen Assessments
For properties requiring a less extensive evaluation, Transaction Screen Assessments (TSAs) offer a cost-effective alternative. While not a substitute for a full Phase I ESA, TSAs still adhere to ASTM E1528-14 standards, providing a streamlined environmental due diligence option.
Purpose of a TSA:
According to ASTM E1528-14, a TSA is designed for users conducting limited environmental due diligence on commercial real estate. However, if the objective is to qualify for Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) Landowner Liability Protections (LLPs), a Phase I ESA is recommended instead.
Additional Real Estate Assessment Services
- Preliminary Environmental Screen (PES) – A streamlined assessment for properties with minimal environmental concerns
- Environmental Record Search – A comprehensive review of available environmental records and compliance history.
Our Expertise
Explore Our Services
Get Reliable Real Estate Due Diligence Services in New York Today
At Get Phase 1, we provide industry-leading Phase I ESAs and environmental due diligence services to help clients make informed real estate decisions.
Contact us today to learn more about our full suite of assessment services or to request a proposal.