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Transaction Screening
The transaction screening process is available as the minimum level of investigation to satisfy the ASTM standard practice from which assessing real estate should proceed. It is appropriate for real estate transactions that involve smaller loans for which the lender is unable to bear the cost a Phase I Environmental Site Assessment (ESA), or in the event a Phase I is not necessary for the level of scrutiny required. Transaction screening is a three-step process that will determine whether or not; Appropriate investigation has been satisfied without the necessity for a Phase I ESA or further testing, a full Phase I ESA is required, or if further investigation into specific issues is recommended.
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