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Updated about 3 years ago on .

User Stats

46
Posts
15
Votes
Maxim Lorenz
  • Rental Property Investor
  • Colorado
15
Votes |
46
Posts

Should I get an ESA done on a small plot of land?

Maxim Lorenz
  • Rental Property Investor
  • Colorado
Posted

We just went under a contract for 0.20 acre plot of land in Woodland Park, CO. It looks like we got a good deal when comparing similar lots in the area. The land has no utilities, but the homes in vicinity do have septic, running water, and electricity (gas in tanks above ground). Electricity runs along the road so the cost of tapping into utilities should not be outrageous. Anyways, it is a cash purchase and we still had to battle the completion. We offered to close ASAP. Now, I am not sure if the city of Woodland Park will require a site survey, but we will likely do it just to ensure where we can build (the plan is to build 700-1000 sq. ft. cabin). However, here's what I am not sure about. Should we get an environmental inspection done? If I asked the internet the answer is yes, but here's my logic and my quation to the community. The land is only ~8000 Sq. Ft. with adjacent neighbor to the west, vacant plot to the east, and more neighbors to the north across the road (nothing to the rear). I am hoping that since it is a fairly a developed neighborhood no contamination exists. Also, and I am not sure if this inspection is like any other I had before (radon, roof, mold, etc) where inspector may say all is well or point out deficiencies and then in small print at the end of the report takes out any liabilities for him/herself in the event something was missed by him/her during the inspection. Not sure if this environmental inspection is the same where they might say something along the lines of "all is great, but if any issues arise we're not liable" so for the sake of saving time, this inspection may not be worth the cost and the money. TIA.