Environmental Site Assessments is a term property owners may hear often but are not fully aware of the importance and legal protection they offer. As a property owner, you would be responsible for any environmental hazards caused by your property, regardless of when the negligence occurred. This is why conducting an Environmental Site Assessment before signing on the dotted line is essential.
What is an Environmental Site Assessment
In layman’s terms, Environmental Site Assessments, or ESAs, are a comprehensive review of the environmental conditions at a specific property. For example, the environmental conditions can range from mold to asbestos to water and soil contaminants. Environmental professionals are hired to perform the assessment, which can take place in several phases.
During this assessment, they pinpoint and evaluate possible contaminants on the site which can be a crucial resource for lenders, land developers, real estate attorneys, property owners, and insurance companies. Additionally, ESAs can help a potential landowner understand property conditions by assessing current and historical site use and potential environmental or human health threats.