Listing Environmental Report (LER)
Attention, real estate agents and brokers. Listing Environmental Reports are an invaluable asset for attracting buyers to your property listing and raising the appraisal value. LERs, are a similar version of Phase 1 Environmental Assessments that are accepted by lenders, can be acquired for a relatively low fee and integrated into your Offering Memorandum.
How does it work? Seller orders our LER at a fraction of what a full Phase 1 ESA costs. This allows him/her to get a snapshot of the property’s environmental risk level, plus can offer it to prospective buyers in their Offering Memorandum. The seller, can then use this SBA compatible report for lending purposes, and if the lender still requires a full Phase 1 Site Assessment, the buyer can call us to convert the LER report into a standard Phase 1 Environmental Site Assessment at a fractional fee and at half the turnaround time.
Other Big Benefits:
LER reports can increase the appraised property value. One factor an appraiser takes into determining property value, is environmental risk. Disclosing our LER report with a "low risk" rating, is a powerful tool in conquering a higher than average valuation of a property.
LER reports follow SBA guidelines, therefore, can be accepted by lenders as an RSRA Desktop Report, although LER reports are far superior.
It's very common for buyers to keep inspection reports secret from the sellers as a strategy. Not this time. Also, if the buyer still decides to go elsewhere for an environmental report, the seller has the advantage of "first to report", therefore, when the next company asks if there's already been a report made on the property (standard practice) and finds out there is, they may be hesitant to report differently than our determination, because of liabilities or industry security.