Environmental Due Diligence 101
Buying real estate for any reason is a significant investment. As a buyer, you want to be sure that the property you purchase is in the best possible condition before you sign on the dotted line. That means taking a close look at the foundations, inspecting the structure for any signs of wear, and making sure the roof isn’t leaking, for starters.
Yet even if your new property looks perfect, there may be liabilities lurking underneath the surface that could come back to bite you. Environmental issues such as soil or groundwater contamination not only can cause headaches for you, but they could lead to huge remediation costs for which you’ll be responsible under the law — even if the problems are not your fault.
That’s why environmental due diligence needs to be part of your process whenever buying real estate. The environmental due diligence process can uncover those lurking environmental dangers and pitfalls — giving you the best chance to be absolved of liability before you purchase the property. However, environmental due diligence is a complicated process and there’s a lot you’ll need to know before you get started.
The accompanying guide includes crucial information about environmental due diligence. Be sure to take a closer look to find those hidden issues.
Courtesy of American Environmental Corporation