Definition
Soil contamination from industrial use, spills, or other sources affects property value, insurability, and development potential. It's invisible but serious. Contaminated soil requires environmental assessment and may require expensive remediation that reduces investment returns.
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Soil contamination requires environmental assessment and may require remediation. Contaminated soil affects property value and may restrict use. Industrial properties and former commercial sites have higher contamination risk. Remediation can cost tens of thousands.
Pro Tip
Request Phase I and Phase II environmental assessments for industrial or commercial properties. Discovery before purchase protects you from liability.
Example
A property on former industrial site with soil contamination requiring environmental remediation.