Environmental
A Colorado buyer discovers the property was formerly a dry-cleaning facility and may have underground storage tank (UST) contamination. The buyer should:
AImmediately purchase the property and disclose later
BCommission a Phase I Environmental Site Assessment before proceeding✓ Correct
CAccept the seller's assurance that the property is clean
DRely on the home inspection to identify contamination
Explanation
A Phase I Environmental Site Assessment is a standard due diligence tool used to identify potential environmental contamination. It reviews historical records and site conditions without actual sampling. If concerns are identified, a Phase II assessment with actual soil and water testing may follow.
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