A transaction screen (ASTM 1528-00), is a modified Phase I ESA that has become widely used in real estate transfers for a quick reconnaissance of a property that is suspected of having a low probability of environmental contamination. This is generally performed on real estate transfers that are suspected of having a low probability of environmental concern. This evaluation includes a site visit and an IEDS search. Rox Engineering will perform this level of review within 10-days and at 1/3rd the cost of conducting a Phase I ESA.
The Transaction Screen is geared for commercial properties such as office buildings, and retail stores, residential properties such as housing tracts, apartment complexes, senior-housing facilities and vacant properties or undeveloped land. The purpose of the transaction screen is to identify obvious environmental concerns and it is considered a minimum due diligence for commercial real estate.
The Transaction Screen can include the following:
- Site inspection with photo documentation
- Search and review of underground tank agency record
- Completion of questionnaires for the owner, inspector, and occupant
- Review of a computer-generated regulatory agency database report containing maps
- A report with concise conclusions and recommendations
The Transaction Screen Report includes recommendations as to whether further assessment of environmental concerns identified at the property is warranted.