Environmental
When a commercial property in Georgia is being sold and the buyer discovers evidence of on-site contamination, the best course of action is:
AA. Proceed with the purchase and remediate after closing
BB. Order a Phase II ESA to characterize the contamination before proceeding✓ Correct
CC. Notify GREC and request a market value reduction
DD. Cancel the transaction immediately without further investigation
Explanation
When Phase I findings suggest contamination, a Phase II ESA should be conducted before closing to determine the extent and nature of contamination, assess remediation requirements and costs, and properly value the risk before making a final decision.
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