If you have just learned that you need a phase 1 environmental site assessment report done on a property you are considering purchasing you likely have some questions, not least of which is how much does a phase 1 ESA cost? You can find the answer to that question and others right here. Before we get started answering questions though, I want to highlight some things you need to look for when having a phase one environmental inspection conducted.
- Be sure the ESA conforms to ASTM E1527-05 and is All Appropriate Inquiry compliant.
- The firm doing the ESA should maintain liability insurance.
- If you are considering Small Business Administration lending make sure the environmental firm will sign the SBA required Reliance Letter.
- The firm should understand the environmental requirements of the SBA Standard Operating Procedures for the current year.
- Your lender will need to approve the environmental firm you choose to conduct the ESA.
With that out of the way, let’s answer your questions about phase 1 environmental cost and other aspects of the phase 1 assessment.
1. Why Do I Need a Phase I Environmental Site Assessment (ESA)? The ESA is performed to identify and hazardous or toxic substances that may be contaminating the soil, water or air of a property. As a buyer, you do not want to bear the liability for any environmental issues that may exist on the property. The small cost of a phase 1 environmental study will protect you from being held liable for any necessary clean up and remediation costs that may be required. The phase 1 ESA is a visual and historical check, for the most part. Actual samples of the soil, air and water are not taken during this phase. You can get an environmental phase 1 report example from the environmental firm you choose to perform your ESA.
2. Where Can I Get a Phase I Environmental Site Assessment (ESA)? If you are working with a lender they will provide you with a list of approved environmental firms. Those located in New Jersey can contact ANCO Environmental Services to get the services of a fully trained and certified ESA professional. No matter what your phase one environmental budget, ANCO can help.
3. How Much Does a Phase I Environmental Site Assessment (ESA) Cost? The final cost will depend on your property, but in general you can expect to pay between $2000 and $3000 for a good ESA report. Rather than asking about how much environmental phase i cost, you should consider how much it can save you.
4. How Long Does a Phase I Environmental Site Assessment Take to Complete? It shouldn’t take longer than 4 weeks to complete an ESA. If you need the report faster than that, many firms will be able to finish faster than this, just ask about a rush job.
5. Does the Phase I Environmental Site Assessment meet the SBA Environmental Requirements? As long as the ESA is performed in accordance with the standards in ASTM E1527-05 it will meet the environmental requirements of the United States Small Business Administration.
Having an ESA done is no big deal, especially when you go with a firm like ANCO Environmental Services that has completed thousands of Environmental Site Assessment’s. Hiring a professional firm like this will ensure affordability and professionalism in getting your ESA report completed. If you are in need of a quality environmental firm, contact ANCO Environmental Services and see what they can do for you.