So in that case the landlord ends up fronting the money and takes typically years to fully recover from the tenants.I like to get inspection early in the process to get these credits right away before big money is spent on attorney,title, lender reports ( environmental phase one, ALTA level one survey, appraisal,etc.).

I am not an expert on this, but I heard of an older dentist office near me a while back that had some environmental issues.

I also found this:If the defects your seller failed to disclose concern environmental hazards – for example, the seller didn’t mention an improperly installed septic system -- you will definitely want to look into your remedies under the Statutory Fraud Act.

The best you would be able to get is a Letter of Environmental Protection, which tells everyone you did illegal work then hired a licensed deleader in to fix it.

@Edwin Ramirez I don’t have a company recommendation, but look for one that does environmental testing only - that doesn’t do repair/remediation.

Is it wise to request a phase 1 environmental assessment before purchase?

Any environmental issues with the building or land?

The ones here are now just recently excluding coverage for dogbite, and they already excluded mold and environmental liability, to my knowledge.

You may want to check out the remarkable research on toxic mold removal done by environmental expert Dr Ed Close.

After that, you will need to spend money on the inspections, surveys, environmental, etc.Financials - Review of the financials can be tricky, particularly if the current owner has not kept the books correctly.