Don’t underestimate the importance of working with a reliable environmental consulting firm, as it can make this process easier for your solicitor and will cost you far less in legal fees.
When it comes to any transaction in the commercial property world, it takes a team of professionals to ensure a successful outcome for all of the parties involved. Carefully choosing your team based on expertise and experience in the environmental field may be one of the most important decision that you make for your transaction. Having trusted advisers on your side, working together, enables you to successfully execute your project – whether buying, selling or refinancing. This formula for success can be applied and replicated regardless of geography or deal metrics, and gets better with every successive transaction that the team completes together. Don’t underestimate the importance of working with a reliable environmental consulting firm, as it can make this process easier for your solicitor and will cost you far less in legal fees.
As with any commercial property transaction, your due diligence reports (including Phase I Environmental Site Assessments, Invasive Species and Asbestos Assessments) are the foundation upon which your successful property project is built. It is essential in assessing and mitigating risk and ensuring that your project is viable and ultimately profitable.
Hiring a skilled Environmental Professional who has local experience, as well as expertise in the specific technical area of commercial property transaction due diligence, will get your project off to a good start. You could save yourself and your solicitor from unnecessary time and effort, a poor-quality report, additional back and forth between all parties, and perhaps even a delay in the completion of your entire project.