Environmental
In Oregon, a Phase I Environmental Site Assessment (ESA) is typically ordered to:
ADetermine a property's fair market value
BIdentify potential or existing environmental contamination liabilities before property acquisition✓ Correct
CTest for radon levels before sale
DComply with OREA disclosure requirements for all commercial sales
Explanation
A Phase I ESA is a standard due diligence tool in commercial real estate that reviews historical records, regulatory databases, and conducts a site inspection to identify potential environmental contamination risks before a property is acquired, protecting buyers and lenders from CERCLA liability.
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