What is a due diligence period in commercial real estate?
In Houston and beyond, a due diligence period in commercial real estate is a stated period in which a buyer or a leaser makes a final decision concerning moving forward with a commercial real estate transaction. As one of the most trusted commercial real estate due diligence companies based in Houston, RSB Environmental will help you with the many facets of this process. The due diligence process for commercial real estate may include property condition assessment reports, phase I environmental site assessment reports (phase I ESA reports), phase II environmental site assessment testing, asbestos surveys, mold abatement reports, radon studies, etc.
As one of Inc. Magazine’s fastest-growing private-owned phase 1 environmental site assessment companies, RSB Environmental will determine the history of the property and surrounding areas for past contamination. Soil testing may reveal a need for costly remediation.
RSB Environmental is one of the best-known phase 1 environmental site assessment companies in Houston and nationwide. A Phase II ESA will include a solution for remediation if a need is discovered. All this will be done within your due diligence period in commercial real estate.
RSB Environmental is one of the most respected environmental due diligence commercial real estate companies in Houston, Texas and beyond.
Due diligence is necessary as a protection against the risk for commercial real estate developers, commercial real estate investors and commercial real estate purchasers. Based in Houston, Texas, RSB Environmental is one of the more experienced commercial real estate due diligence companies. RSB Environmental serves clients in Houston, San Antonio, Austin, and Dallas, Texas and nationwide.
Lenders involved in a commercial real estate acquisition process in Houston and nationwide will expect an environmental site assessment (ESA) for a commercial real estate loan. This commercial real estate due diligence will evaluate threats concerning properties considered as collateral. This is standard due diligence on the part of the lender to cover their own company’s risk when dealing with clients who engage in commercial real estate acquisitions. A lender’s commitment is sometimes contingent on environmental findings that have been done during the commercial real estate due diligence period.
A closing checklist for commercial real estate in Houston and beyond should always include environmental due diligence. Whether you are in Texas and have TCEQ compliance or have due diligence compliance needs in other states, we can help!
RSB Environmental has a thorough commercial real estate environmental due diligence checklist to make sure that its clients have no surprises whether they are lenders, developers, investors, or purchasers.