The United States Environmental Protection Agency (EPA) has designated January as National Radon Action Month. High levels of radon are prevalent in every state across America. The EPA estimates that approximately 8 million homes throughout the United States have elevated radon levels and that as many as 21,000 lung cancer deaths are attributed to radon each year, the second leading cause of lung cancer. It is considered one of the most dangerous environmental contaminants that can be found in a CRE property. To properly address the questions and concerns that often arise during real estate transactions, while also avoiding potential liability complications, it is vital to engage “environmental professionals” and experienced consultants who hold the requisite radon expertise and knowledge. Given that there are practical and field-tested techniques to address the issue of radon, it does not need to delay or prohibit a real estate transaction from occurring.
Approximately 75% of all radon tests occur because of a real estate transaction.
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September 21, 2023
Partner provides this guide of which regulated and non-regulated states have oversight into Radon Testing to help you better understand each state’s oversight. [Download Full Document Here]
June 05, 2023
Getting Familiar With FHFA’s Updated Radon Sampling Requirements Agency lenders are preparing to implement the new radon testing standards for Fannie Mae and Freddie Mac multifamily loans. The updated policy […]
August 23, 2021
FHFA TO INCREASE RADON SAMPLING REQUIREMENTS FOR MULTIFAMILY The Federal Housing Finance Authority (FHFA) is considering an increase to radon sampling requirements for Fannie Mae and Freddie Mac multifamily loans […]
