Amy A.
EDR Collateral Screen problem with loan
I'm refinancing a 5 unit apartment building and the bank just started doing "EDR Collateral Screening". I think EDR stands for "Environmental Data Resources". The result is quoted below:
" EDR collateral screen out...
Erik Nizenkoff
Seller Refusing to provide Phase I ESA
Hi, I've been lurking on the forums for awhile, but this is my first time posting.I'm currently 14 days into a 60 day escrow on the purchase of a commercial property in California. This would be our first commercial...
Andy Grebe
15% cap commercial property BUT open enviromental....now what
I knew this property and the environmental would be a tricky deal and I have limited experience. There has been site work on this property but solvents run into neighboring properties. Here is where we are today - ...
Joseph Guzzardi Jr
Inspection for mixed use building
In the process of purchasing a mixed use building where the store front used to be a dry cleaners. What type of inspection/due diligence should I be performing on the property?
Rich Hupper
Database for contaminated properties
HelloI recently applied for a commercial mortgage and the bank said the address triggered an environmental hazard redflag. The bank is now requiring testing to be done before a loan can be issued. Is there a public da...
Nick B.
Gas station near apartment complex - how close is too close?
Hello BP!I am considering a small 16-units apartment complex but there is gas station across the street from it. I know that gas stations present potential environmental problems and Phase I report is a must. However,...
Ray Hayward
GC Partnership Advice
Hello, I am looking to partner with a General Contractor on a project. The conversation has been based on the exchange of “Sweat Equity” for Partnership Equity. I am looking for advice on how to make the Contractor a...
Marcus Brown
How do I do due diligence on formerly mined property?
Greetings, I just received a call from a seller who owns several dozen acres in Walker County, AL. He hasn't been to the property but thinks it may have been mined and reclaimed at some point, and it looks like there'...
James Stinnett
Question about an Industrial property purchase - Please help
I have a good friend that is looking to purchase a industrial property for their iron rebar business. There is a property that they like and it is currently in escrow but according to the listing agent it looks to be ...
Ray Hayward
Buying a Mortgage Note and how to leverage it
Hello, I am looking into buying a Mortgage Note and have a verbal agreement with the bank. The property has been abandoned and unpaid for almost 10 years. I was hoping to buy the Note to be able to do an environment...