Environmental Site Assessment (ESA)/ Transaction Screen Assessment (TSA) is intended to assess the environmental conditions of multi-family residential and small commercial real estate properties. This process represents a prudent and reasonable inquiry into recognizable environmental conditions at the subject property. The TSA consists of a visual inspection of the subject property, a review of government records, and the completion of a questionnaire. The TSA, like the Phase I ESA, is intended to meet the standards of appropriate inquiry necessary to qualify for the Innocent Landowner Defense of CERCLA. The TSA allows us to conclude that either no further assessment is required, or that further assessment is necessary. The procedures for the TSA are conducted in general accordance with ASTM E 1528-06. This process is often cost-effective for multi-family residential properties, small commercial properties, and remote properties where there has been limited property use.
Limited Phase I
Transaction Screen Assessment (TSA)
What is Limited Phase I – Transaction Screen Assessment (TSA)?
Limited Phase I – Transaction Screen Assessment (TSA) is an environmental due diligence tool used to assess the potential environmental risks associated with a property transaction. The assessment involves a review of available public records, site history, and interviews with site personnel to identify potential environmental concerns that may affect the property’s value.
A Limited Phase I TSA is typically conducted when there is reason to believe that a property may have been contaminated or otherwise impacted by previous industrial or commercial activities. This type of assessment is generally less comprehensive than a full Phase I Environmental Site Assessment (ESA) and may be appropriate for smaller, less complex properties where the potential for environmental risks is lower.
The Limited Phase I TSA is intended to identify potential environmental concerns that may require further investigation and analysis. If potential environmental concerns are identified during the Limited Phase I TSA, a more comprehensive Phase I ESA may be recommended to determine the extent and severity of any environmental issues and their potential impact on the property transaction.
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