Environmental
Due diligence for a Utah commercial property purchase typically begins with a:
APhase II Environmental Site Assessment
BPhase I Environmental Site Assessment✓ Correct
CSoil percolation test
DAsbestos bulk sampling
Explanation
Environmental due diligence begins with a Phase I ESA—a non-invasive review of records, regulatory databases, and site inspection. If recognized environmental conditions are found, a Phase II ESA with physical sampling follows.
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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.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial 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 DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
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