With this disclosure, you may have to undertake a Phase I Environmental Assessment - your lender or insurer may insist on it.We had a very similar deal on a multi-family a year ago - when the Phase I and some soil sampling came back strongly indicating remediation, we - and our lender - insisted on placing a substantial portion of the purchase price (30%) in escrow to cover remediation costs.

I currently work for a civil engineering group as a wetland/environmental specialist...

Sorry to pollute the discussion, but I think if one is hoping to learn more this is helpful.

SanderGive a hoot, don't pollute

Good question William Walker - some of the fees that would be eligible for 504 financing are:- Appraisal- Environmental- Survey- Title Insurance- Closing Costs- Recording Fees- Bank Fees- Interim InterestKeep in mind, all of the money you intend to spend on professional fees and interim interest will need to appraise out with as "As-Complete" value, stated in the appraisal.

ArcinioAt this point, you have polluted what could have been an opportunity.

Another is the ideal that I can do an environmental restoration project there and divert part of the proceeds from my book into that project.

Any other key environmental factors to worry about in the Spring/Woodlands/Tomball area (i.e. flood planes, etc)?

Travis WestCIEC (Certified Indoor Environmental Consultant)MAC0325 (Licensed Texas Mold Assessment Consultant)

Travis WestCIEC (Certified Indoor Environmental Consultant)MAC0325 (Mold Assessment Consultant licensed by the Texas Department of State Health Services)