Real Estate

Phase 1 Environmental survey for commercial property?

  • Last Updated:
  • Feb 20th, 2020 5:09 pm
[OP]
Jr. Member
Jan 22, 2015
174 posts
43 upvotes
Toronto

Phase 1 Environmental survey for commercial property?

Folks,

I have been requested to provide a phase 1 Environmental survey report for a commercial multi-unit residential property which i am buying. What are some of the best reputable 'Environmental Survey' companies that i can approach for Environmental survey? Any company which is accepted by all A and B lenders?
4 replies
Member
User avatar
Aug 11, 2019
208 posts
219 upvotes
Toronto
I would recommend asking your mortgage broker, potential lender who they would accept the report from.

Also what city is this for?
Full Time Realtor
GTA & Surrounding Areas
[OP]
Jr. Member
Jan 22, 2015
174 posts
43 upvotes
Toronto
This is for a Property in Trenton. They recommended me 'A & A Environmental Consultants Inc' and there quote turn out to be very expensive.

1) Any other recommendation?
2) I am looking for a reputable company whose report will be accepted by most of the banks just in case if my mortgage doesn't go through with the bank i am dealing with as these survey reports are quite expensive.
Jr. Member
Dec 18, 2017
134 posts
54 upvotes
Just something to keep in mind

What kind of commercial property is it?

Based on experience, most phase I will probably conclude that you need a phase II. Then it’s up to you to negotiate with the bank. If it’s just a unit in strip plaza, then you can probably get away without it.
[OP]
Jr. Member
Jan 22, 2015
174 posts
43 upvotes
Toronto
This property is a multi - unit residential property i.e it has 11 x 2 Bedroom residential units where families are living.... Some one quoted me $8200 which i find extremely for phase 1.... Any recommendations?

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