Environmental issue can stop loan closing. Do pre-sales environmental esa

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Issues & Answers

When commercial or industrial properties are offered for sale, the lender and / or buyer routinely o

The issue

   

  

You have worked long and hard to sell a commercial or industrial property. The client process has advanced to the lender and everyone is expecting a closing. However, as a normal part of the lender’s due diligence an Environmental Site Assessment is ordered, and they report finding an environmental issue. The process stops cold. Corrective actions are required by the bank.

The real problem

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Environmental issues cause buyer fear and upset the seller and realtor. Seller corrective actions are started however,  issues and delays can cause the buyer to stop the deal.

The answer

  

We work with the seller very early (even before the property is advertised) in the sales cycle to identify issues that could later cause a delay or worse. Modest client corrective actions are recommended by our environmental consultant. Our focus is on the seller and our recommendations aimed at elimination of small and major issues. 

Realtor help needed

The seller is typically not identified to us until late in the sales cycle. We need to be introduced to the seller early while there is time to help (environmentally) to get the client / property ready for sale. This will not cost the realtor anything .  

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Environmental Property Specialists, LLC POB 2550 Peachtree City GA 30269 Phone 770 631 4576 Fax 770 631 1999 dickronco@lenderstudy www.lenderstudy.com