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Environmental Issues
In purchasing a piece of property, it is important to be aware of any
environmental liabilities associated with it. For example, you should find out
if there are any registered underground tanks within several miles of the
property, if there are any known contaminated properties in the neighborhood, or
if any property owners have been fined by the government for failing to meet
environmental safety standards.
Previously, this has been done by a costly site investigation, but now there are
online environmental databases available at a fraction of the cost. These
databases range in price from about fifty dollars to several hundred, but
through them, anyone can access reports on otherwise hard to detect
environmental issues. With these databases, it is possible to obtain a listing
of hazards near a property, or spills and violations attributed to businesses
nearby.
Some of the more well known databases include VISTA Information Systems, located
in San Diego, California, which allows you to register and search the data bank
for free, and E Data Resources, which is located in Southport, Connecticut.
These services are all relatively inexpensive, but can provide you with
priceless information before you make a purchase.
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