Partner helped save a Michigan mortgage broker both time and money by completing an Environmental Transaction Screen Assessment (TSA) on a 41,080 SF commercial warehouse and office property in Wixom, MI.
By completing the transaction screen first, Partner was able to let the client know that a Michigan Baseline Environmental Assessment (BEA) regulatory file was filed with the Michigan Department of Environmental Quality (MDEQ), now known as the Michigan Department of Environment, Great Lakes and Energy (EGLE), using the subject property address. By identifying this early in the transaction, the broker was able to reach out to neighboring properties and determine which property had misfiled the BEA under the incorrect address.
The nearby property owner then contacted Partner with a copy of the BEA report which proved that it was indeed filed under the wrong address. As a result, Partner was able to update their report instead of waiting the average 2-week response period from the MDEQ/EGLE, and the lender was able to process the loan without any delays.