A contaminant is a substance, element, or compound that can cause harm to humans or other forms of life if released into the environment. Contaminants are commonly found in concentrations above acceptable levels or in places where they should not be. This term is particularly relevant in real estate during the due diligence process when evaluating property for purchase or financing.
A Phase I Environmental Site Assessment (ESA) is a preliminary investigation conducted to identify potential environmental contamination liabilities before acquiring or leasing a property. It typically includes a review of historical land use records, site inspections, interviews, and financial records.
