Environmental due diligence is typically performed by a qualified environmental professional. Check with your local environmental agency for names of qualified firms.
"How" one does this is way beyond the scope of a message board.
typically we would do a phase I environmental study. If the phase I warrents it, we continue to phase II testing and then if things are really bad we go to phase III and remediation. Hire a good environmental science company that does phase I,II, and III studies regularly.
You can start by finding state and county websites relevant to your property. Call all the numbers for anyone who has anything to do with the environment (air, water, soil, wildlife) and get chatty with them about the property and what things you might need to know to conduct an environmental study. Maybe they have a list oif people they know (they won't recommend anyone, but maybe they "know" someone who teaches a course on the topic at a local community college. Get my drift?? Be friendly and curious and ask anything and everything that comes to mind. Many government workers are happy to spend time on the phone. If you can't do this, hire someone who can talk easily and get info out of people.
it comes natually to me, and I've spent 30-40 minutes at a clip with goverment workers who showed me websites and sent me documents galore. They will tell you how to get the environmental studies and who will do them for you at the cheapest rate - you just need to be friendly and sincerely and not pushy.
thanks a lot for the replies. I was just curious how everyone goes about environmental DD. The reason I ask is I am working for a company that offers a desktop due dilligence product that looks at the current govt records as well as the historical uses of the property much like a Phase 1 or TSA http://www.does.The beauty of this is that it only costs a few hundred dollars vs thousands of dollars when an environmental engineer/consultant gets involved. On big deals a Phase 1 is a very good idea as the professional opinion of a pro is worth the $$$$, but on smaller dealsit might not make sense and thats where this report can come in handy.
Thanks [ Edited by NancyChadwick on Date 07/22/2004 ]
In my experience, when a Phase I is done, the consultant doesn't just look at local, state & fed files on the property. A walkover is absolutely critical. Contamination in any deal can be a big deal. In addition, if the buyer is financing part of the purchase price, his lender will require a Phase I report.
I understand what is involved in a Phase 1, and as you stated a site walk is a large part of it. As far as the lender requireing a Phase 1 that isn't always the case. I have found that on smaller cap loans (typically under the 1M or 500K depending on the lender) or loans with a percieved lower risk. A lot of lenders only require a questionaire whih is insane from their point of view, and thats where the desktop due dilligence comes into play 8-)
With the lender aside a sophisticated buyer will always want a phase 1 or some type of formalized due dilligence so that they know what they are getting into, and so that they can negotiate a better price if there are issues.
A phase One is a minimal, superficial, review. A full environmental in Florida includes:
Enfangered species review
Wetlands flaging
Phase 1
Tree Count
Exotic count
In the past, for example, you could pay a fee and then go in and actually shoot gopher tortoises. Now you can. The tortoise can hold up a project for over a year.
Bottom line is, get a State registered environmentalist familiar with the needs of your area to do your environmentals. For example, in Connecticut you may need to look for disposed mafioso on your land before you can build (-:
In PA, wetlands and environmental (contamination) are not done by the same folks. Environmental in the broader sense, of course, includes just about everything under the sun. Developers tend to use specialists here--traffic engineers, wetlands, landscape architects, etc. for components of the site inventory.
Environmental due diligence is only one aspect of the overall due diligence required prior to the purchase of property.
Environmental due diligence is my specialty. I have been involved in similar environmental consulting services for 20 years.
For information on how to perform environmental due diligence you may wish to check out ASTM standard (ASTM 1527-02) on performing Phase I Environmental Site Assessments.
The EPA will soon be revising the way environmental due diligence is performed. The EPA has proposed rules on All Appropriate Inquiries. Check out the EPA web site.
To get a preliminary snapshot of environmental risks in the general vicinity of a prospective property consider the EPA Envirofacts Multisystem query tool on the EPA web site.
FYI - I tried to send links to the suggested web site locations but the TCI forum would not allow it because I am too new to the TCI site. Sorry.
[ Edited by McGaha_Consulting on Date 10/09/2005 ]
[ Edited by woodsong on Date 10/09/2005 ][ Edited by NancyChadwick on Date 10/10/2005 ]
Environmental due diligence is typically performed by a qualified environmental professional. Check with your local environmental agency for names of qualified firms.
"How" one does this is way beyond the scope of a message board.
typically we would do a phase I environmental study. If the phase I warrents it, we continue to phase II testing and then if things are really bad we go to phase III and remediation. Hire a good environmental science company that does phase I,II, and III studies regularly.
You can start by finding state and county websites relevant to your property. Call all the numbers for anyone who has anything to do with the environment (air, water, soil, wildlife) and get chatty with them about the property and what things you might need to know to conduct an environmental study. Maybe they have a list oif people they know (they won't recommend anyone, but maybe they "know" someone who teaches a course on the topic at a local community college. Get my drift?? Be friendly and curious and ask anything and everything that comes to mind. Many government workers are happy to spend time on the phone. If you can't do this, hire someone who can talk easily and get info out of people.
it comes natually to me, and I've spent 30-40 minutes at a clip with goverment workers who showed me websites and sent me documents galore. They will tell you how to get the environmental studies and who will do them for you at the cheapest rate - you just need to be friendly and sincerely and not pushy.
My 2 cents.
MarleneM
thanks a lot for the replies. I was just curious how everyone goes about environmental DD. The reason I ask is I am working for a company that offers a desktop due dilligence product that looks at the current govt records as well as the historical uses of the property much like a Phase 1 or TSA http://www.does.The beauty of this is that it only costs a few hundred dollars vs thousands of dollars when an environmental engineer/consultant gets involved. On big deals a Phase 1 is a very good idea as the professional opinion of a pro is worth the $$$$, but on smaller dealsit might not make sense and thats where this report can come in handy.
[ Edited by NancyChadwick on Date 07/22/2004 ]
Thanks
HKS,
In my experience, when a Phase I is done, the consultant doesn't just look at local, state & fed files on the property. A walkover is absolutely critical. Contamination in any deal can be a big deal. In addition, if the buyer is financing part of the purchase price, his lender will require a Phase I report.
I understand what is involved in a Phase 1, and as you stated a site walk is a large part of it. As far as the lender requireing a Phase 1 that isn't always the case. I have found that on smaller cap loans (typically under the 1M or 500K depending on the lender) or loans with a percieved lower risk. A lot of lenders only require a questionaire whih is insane from their point of view, and thats where the desktop due dilligence comes into play 8-)
With the lender aside a sophisticated buyer will always want a phase 1 or some type of formalized due dilligence so that they know what they are getting into, and so that they can negotiate a better price if there are issues.
A phase One is a minimal, superficial, review. A full environmental in Florida includes:
Enfangered species review
Wetlands flaging
Phase 1
Tree Count
Exotic count
In the past, for example, you could pay a fee and then go in and actually shoot gopher tortoises. Now you can. The tortoise can hold up a project for over a year.
Bottom line is, get a State registered environmentalist familiar with the needs of your area to do your environmentals. For example, in Connecticut you may need to look for disposed mafioso on your land before you can build (-:
In PA, wetlands and environmental (contamination) are not done by the same folks. Environmental in the broader sense, of course, includes just about everything under the sun. Developers tend to use specialists here--traffic engineers, wetlands, landscape architects, etc. for components of the site inventory.
Environmental due diligence is only one aspect of the overall due diligence required prior to the purchase of property.
Environmental due diligence is my specialty. I have been involved in similar environmental consulting services for 20 years.
For information on how to perform environmental due diligence you may wish to check out ASTM standard (ASTM 1527-02) on performing Phase I Environmental Site Assessments.
The EPA will soon be revising the way environmental due diligence is performed. The EPA has proposed rules on All Appropriate Inquiries. Check out the EPA web site.
To get a preliminary snapshot of environmental risks in the general vicinity of a prospective property consider the EPA Envirofacts Multisystem query tool on the EPA web site.
FYI - I tried to send links to the suggested web site locations but the TCI forum would not allow it because I am too new to the TCI site. Sorry.
[ Edited by McGaha_Consulting on Date 10/09/2005 ]
[ Edited by woodsong on Date 10/09/2005 ][ Edited by NancyChadwick on Date 10/10/2005 ]
Check this out:
http://www.directv.com/DTVAPP/buy/Business_Landing.dsp
and this:
http://www.directv.com/DTVAPP/buy/Business_Com.dsp
Hope it helps...
Tim
Thanks.
Any experience w/ them?
I also found 1 dish system that seems to receive both direct & dish.
I believe Direct and Dish are one-in-the-same now...
http://www.oahudish.com/dish_direct_merger.htm
It was the service rep at Dish that told me they were one in the same (at least a year after the merger was shot down)...go figure...