Board Topic: Phase one ESA price
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Phase one ESA

Posted by: miamicanes May 12 2004, 07:58 AM
Approximately how much can I realistically expect to pay for a phase one environmental site assessment for a small (< 1/4 acre) property with an existing single family home that I plan to demolish in Miami?

Posted by: loanuniverse May 12 2004, 12:08 PM
A phase I environmental can run you anywhere from $1,500 to $4,000. You might find it difficult to get the low end of the range because of the one-time transaction nature of your business. As opposed to a lender that can provide dozens of engagements a year.

Also the wide range does not mean that someone is not being honest. It just means that some people might not be as interested in doing an environmental in that area, or might be too busy to compete on price.

Posted by: loanuniverse May 12 2004, 08:36 PM
Funny thing happened today, loan administration was closing a loan and I was involved because there was a pending credit issue, and I saw the invoice for the phase I environmental. The building in question was in Miami {industrial with 17,000 sq. ft.}, and the bill was for $1,200. Therefore, I am going to have to drop the low range to $1,000. However, I still think you won't be able to get that kind of pricing.

P.S: The price range is for a full phase I environmental. Make sure you ask for that when requesting quotes.

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