The Transaction Screen assessment is a cursory review of the property to identify potential for environmental impairment. When used appropriately, this practice can provide beneficial property information without the expense of conducting a complete Phase I Environmental Site Assessment. The Transaction Screen is especially beneficial for lenders, individuals considering properties for purchases, property trust managers, and individuals conducting business transactions without the involvement of a financial institution. The Transaction Screen quickly and affordably provides all involved parties with general property information to mitigate concerns regarding potential environmental impairment.
The Transaction Screen includes the following:
*Inspection by an experienced inspector
*Document the presence of hazardous materials or petroleum products
*Owner / occupant interview and questionnaire
Limited historical search
Regulatory database review
*State environmental agencies
*Federal environmental agencies
Preparation of a report documenting the findings, conclusions and recommendations
In the event potential for recognized environmental conditions is identified, a significant portion of a Phase I ESA has been completed and a full Phase I can be prepared at a substantially lower cost.