Benefits of soil & groundwater sampling and testing include buyer beware, which provides the potential purchaser and/or current owner of the property with a complete understanding of the presence, type, extent, and location of impacted areas on the property.
Another benefit includes lender beware, which provides the potential financial lender with an in-depth evaluation of potential environmental risks associated with the property of interest in order to ensure the lender is content with providing the purchaser with the financing. This also allows the financial lender to verify the risk involved with the financial loan, so that foreclosure responsibilities of remediating the site can be avoided in the future.
Another benefit includes pre-purchase. This decreases the potential for identifying environmental issues on the site, which can delay property transactions in the future.
Lastly, another benefit includes leverage. Property values can be negotiated during property transactions when impacted soil and/or groundwater has been identified on the site in exceedance of the applicable Site Condition Standards. The potential costs required to perform the required soil and groundwater remediation on the site can be discussed and incorporated into the property transaction deal in order to lower the purchase price.
Property owners, purchasers, lenders and tenants can make information decisions about the property in question when they obtain valuable information regarding a site’s environmental condition.
Across Ontario, Rubidium’s environmental consultants have conducted soil & groundwater sampling and testing during environmental site assessments for a wide range of industries. Contact us today, and we will help you identify what, if any, environmental site assessments and/or soil and groundwater remediation might be required at the property of interest.