Phase 1 Environmental

[Rich Thomas]

I have a property under contract and the lender has just requested a Pahse 1 environmental study be done. The property has never been used as a gas station or laundry cleaners etc. the only thing I can find if years ago there was a gas station across the street and a Laundry mat on the same block.

Will a Phase 2 automatically be required because these types of business’ were near my property? Is there any type of guideline that says a Phase 2 is needed if one of those types of business’ was near your property? I dont believe either of them were actually touching my property...

[Bob Solak]

100 years is a long time.  Your Phase 1 should include historical information about what was located there over the last 100 years.  Old phone directories, old aerial photos, old fire insurance maps, etc. etc.  I wouldn't freak out about anything until you get the Phase 1.  

Typically a grocery store and video rental place would not be causes for concern.