Environmental

A real estate professional in Georgia who encounters a property with potential contamination from a nearby industrial facility should advise the buyer to:

APurchase the property and deal with it later

BCommission a Phase I Environmental Site Assessment as part of due diligence✓ Correct

CAssume the facility doesn't affect the property

DSimply ask the seller if the property is contaminated

Explanation

When contamination risk is identified near a target property, a Phase I ESA is the appropriate first step to professionally evaluate recognized environmental conditions before committing to purchase.

People Also Study

Key Terms to Know

Purchase Agreement

A legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.

Zoning

Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.

Variance

Official permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.

Eminent Domain

The power of government to take private property for public use, with the requirement to pay the owner just compensation.