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September 28, 2021

Closing the Deal – How a Remedial Cost Estimate Could Help

By Wes Skinner, CHMM

The CRE market is hot, there has been some talk of looser underwriting and investors taking on riskier deals, but you don’t have to let down your standards to make a deal work. Resources are stretched thin, inventory is low and time is at a premium. Even when all of the parties in the transaction are pushing to get the closing over the finish line, there are just some things that can’t be accelerated. But what if you are dealing with a less than perfect site, one that has gotten a hit during a Phase II ESA or during a site characterization? Lenders may be leery to fund, and buyers may be less likely to want to obtain a site with potentially unknown clean-up costs attached. Does this mean you have to pump the brakes on your deal, or worse, pull out completely? The answer is not necessarily if you perform a Remedial Cost Estimate.

In this article, Wes Skinner discusses what a remedial cost estimate is, who needs it, and how it will help close your deal.

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