Environmental
A buyer of commercial real estate in New York conducts a 'Phase I Environmental Site Assessment' to:
ATest soil samples for contamination
BIdentify recognized environmental conditions (RECs) through records review and site inspection, without sampling✓ Correct
CSatisfy the lender's appraisal requirements
DFulfill the New York Seller's Property Condition Disclosure requirements
Explanation
A Phase I ESA identifies recognized environmental conditions (RECs) through review of historical records, regulatory databases, and a site inspection, without collecting samples. If RECs are identified, a Phase II (sampling) may follow.
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