Environmental
A Connecticut buyer wants to purchase a commercial property that was formerly a gasoline station. The buyer's lender requires which preliminary environmental review before approving the loan?
AA Phase II ESA
BA Phase I ESA✓ Correct
CA Connecticut Transfer Act Form I
DA DEEP permit
Explanation
Lenders typically require a Phase I ESA before approving commercial property loans. A Phase I identifies recognized environmental conditions (RECs) through records review and site inspection.
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