Yeah, it’s stupid
Seriously here’s the deal. I just finished up my phase 1 cert and will be performing them starting next week.
If there is an issue that you’re unaware of, say some buried tanks of heating oil on the property that are leaking. If you don’t get a phase 1 you are 100% liable for all cleanup costs no matter how many millions it could cost. It doesn’t matter that it was done 50 years ago and you didn’t know. YOU ARE LIABLE!
If you get a phase 1 you qualify for the ILD or innocent landowner defense and can get out of the liability and may qualify for a superfund cleanup.
It’s very cheap insurance and peace of mind and honestly you’re a fool if you don’t do it. Not to be insulting, just a fact.
Frank has a story where he bought a park without a survey or a defective survey or something like that. Turned out he didn’t in fact own much of the park he’d bought.
Someone correct my Frank story here, I know that’s wrong.