8d • 📢 GENERAL DISCUSSION
Environmental
For those who've acquired properties with prior auto body/gas station history — did your lender require a current Phase I or Phase II, or did they accept older reports with a reliance letter?
Has anyone successfully gotten an environmental firm to issue an updated reliance letter on a 13-year-old report rather than doing a full new Phase I or Phase II? What did that cost and how did it go over with the lender? What else should be considered before acquiring?
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Environmental
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