| When it comes to buying or selling a home, | | | | environmental risks associated with a |
| conducting the proper research and "due | | | | property and increasingly residential real |
| diligence" is essential before making any | | | | estate buyers, sellers and professionals are |
| purchase decisions. Homebuyers will research | | | | doing the same. |
| all sorts of factors related to a property | | | | |
| such as details about the surrounding | | | | Environmental information reports provide |
| neighborhood, the quality of the school | | | | important information on known and potential |
| system or the local crime rate. However, many | | | | contamination that exists on a property or in |
| often overlook one of the most critical | | | | the surrounding neighborhood. Today, |
| elements of due diligence that can have the | | | | homebuyers, sellers and agents are utilizing |
| greatest impact on the quality of the | | | | residential environmental information reports |
| investment: the risk of environmental | | | | to find out the "health" of a particular |
| contamination. | | | | property or neighborhood and ensure a wise |
| | | | investment. Because contamination is often |
| According to the nation's leading provider of | | | | the result of long past activities and |
| environmental information reports, | | | | usually shows no visible signs of the dangers |
| Environmental Data Resources (EDR), one of | | | | it poses to residents through toxic air, |
| the most important considerations when buying | | | | water or soil, professionally prepared |
| or selling a home should be the environmental | | | | environmental risk reports usually provide |
| risks associated with the property and its | | | | the only way to screen for these types of |
| surrounding area. | | | | issues. |
| | | | |
| Issues such as whether the home is in close | | | | So, how can you make sure you're not missing |
| proximity to a leaking underground storage | | | | this step in the "due diligence" process? |
| tank or old landfill, next door to a | | | | |
| hazardous waste site or perhaps even a | | | | • Ask the real estate agent. Real |
| clandestine "meth" drug laboratory-are | | | | estate agents often have access to |
| equally as important for one's financial and | | | | environmental risk reports and data. |
| physical well-being as knowing if the home is | | | | |
| structurally sound and in a safe | | | | • Seek help from a qualified |
| neighborhood. Contaminants on or near a | | | | professional home inspector. Home inspectors |
| property not only pose serious health | | | | are increasingly offering environmental |
| consequences for you and your family, but can | | | | information reports. For example, all Pillar |
| have a serious impact on the value of a | | | | to Post home inspectors now offer the EDR |
| property as well. | | | | Neighborhood Environmental |
| | | | Report™-visit to find an inspector. |
| In commercial real estate, environmental due | | | | |
| diligence has been a standard practice for | | | | • Search government records on your |
| nearly 20 years. Commercial real estate | | | | own. Federal and local government agencies, |
| professionals use environmental information | | | | such as the EPA, keep records of |
| reports to better understand the | | | | environmental contamination. |