Is Zoning report & phase I environmental test always necessary

[Ki Lee]

Hello BP,

I asked a similar question before, but let me clarify.  When buying apartments....

Zoning reports - Is this always required? I've read that in some states like NJ, it's required for all commercial transactions.  I'm talking about other states.  This is for a mixed-use property with MF apartments and a small commercial space.  What is the cost that one can expect to pay?

Phase I environmental inspection - I see a wide range of opinions here.  Do I always need it?  Or if the subject property is close to gas station/self storage/cleaners/car wash/other concerning neighbors?  And what constitutes "close proximity?"  What if the gas station is like 2 blocks away? 1/2 mile?  1 mile?  Does the phase I include water quality testing for lead and other impurities?  How about mold in the building?  How much can one expect to pay for this kind of inspection for a 20 year old apartment, single building, 20-40 units?

Thank you.

[Clint Shelley]

When we do Alta surveys on complexes, the zoning report is always in the lenders list of requirements. The phase one I don't always see. 

Clint