Environmental
Jan. 12, 2011
Hazardous Material: What You Don’t Know Can Hurt You
When buying commercial property be smart and hire an expert to identify major sources of environmental risk. By Jeff Lawson of Silicon Valley Law Group.
For buyers of commercial property, it is standard practice to conduct an initial due diligence environmental investigation, referred to as "Phase I"; after all, lending banks require it. If a hazardous condition is identified, a more thorough analysis is done. Depending on the condition, testing of the building or soil and ground water is typically performed to determine the extent of the problem.
However, more often than not, ...
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