The cost of both phases of ESA (Environmental Site Assessment) viz Phase 1 and Phase 2 procedures can vary for the regions where the property is located, as well as for the type of property. However, one thing that all the buyers, sellers, contractors, and other stakeholders and parties associated with a property deal and purchase should know that low prices (to the extent of being suspicious) point out that they lack quality and/or efficiency. The reports and findings of such low-quality service providers of ESA cannot be trusted. It is always wise and prudent to invest an average and reasonable amount of money towards hiring an ESA service provider so that the benefits will compensate for the costs. The cost of ESA Phase 1 typically varies between $2,000 and $ 6,000, the average being around $ 3,500. Below are some essential factors and aspects that can directly or indirectly impact the prices of phase 1 environmental site assessment.
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Property Characteristics
The location, as well as the size of the property, may impact the cost of the phase one environmental test conducted for it. For instance, if the property is located in some distant area, or has fewer modes of connectivity (a part of nowhere!), it may be quite tricky for the ESA service provider to operate in the area and even reach it. It would add substantially to the costs, which will be higher when compared to an ESA conducted for properties located in more prominent, easy-to-access, and popular areas. Further, there should also be enough sources of obtaining information regarding the site. The presence of public and private information sources on the subject (in the form of libraries and records) facilitates the process. If there are no such public or private institutions present that can provide any information, lots of money would be spent on obtaining crucial information, which will again be causing a hike in the prices.
The size of the property will also impact the cost of the ESA. For instance, the more significant properties will require more measures for physical as well as in laboratory inspections and experiments, respectively. More areas would have to be covered during the physical investigations of Phase one environmental. In contrast, later in the ESA Phase 2, more samples may also be required for the different areas of the enormous property. Hence, the property’s size will impact the cost of both ESA Phase 1 and ESA Phase 2 procedures. For instance, a small office or a retail shop can be inspected quickly compared to a large car dealership, and hence the cost would be more for the latter.
Below are some of the ESA Phase 1 prices that will help you know more about the pricing structure prevailing currently.
A commercial lot of small size- $ 2000 to $ 3000
Medium to large size industrial area/lot having an area greater than 1 acre- $ 2500 to $ 4500
A large industrial facility- $ 4500 to $ 6500
Rural property of a large size- $ 3500 to $ 4500
Standards Followed
ESA reports are quite crucial for lenders, buyers, and sellers, but they do not trust the ESA reports coming from anywhere or from places which they do not know about. For instance, some organizations may require that the report follow ASTM standards (American Society for Testing and Materials, now known as ASTM International). In these cases where all inclusions were made, some revisions are still required to be made so that the report adheres to the standard, making the ESA phase one procedure costlier.
Many factors that affect the cost of other services may also affect the cost of ESA services. Some of these include causes related to employment, technology, and labor, and the state of the demand and supply market. Changes and updates in the ASTM standards may require that specific new procedure are included in them, or the existing ones are updated, which will further increase the cost.
It is essential to engage a leading and reputed ESA service provider for the reliability of findings and results. Contrary to what many people may think, these services do not charge excessively, as they gain many profits from the economies of scale. Therefore, one should probe aspects including certification, license, and market reputation, before hiring a leading firm specializing in ESA.
