What is Phase I ESA?
A non-invasive environmental review of records, regulatory databases, interviews, and site conditions that identifies Recognized Environmental Conditions (RECs). Standard for commercial acquisitions; typically $2,000–$5,000.
Where you will use it: this term comes up in the Real Estate Finance course, and the full course glossary collects every term in one place.
Related terms
From the free Real Estate Finance course by Devon Coombs, CPA, MBA.