Does the buyer or seller normally pay for an initial environmental inspection on commercial property
Attorney answers (1)
Michele A. Cavallaro
Reputation Level 7
Answered over 2 years ago.
Real Estate Attorney in Dania, FL.
Every contract term is negotiable, but generally the buyer is the one concerned with due diligence, which means their investigation of the property for environmental issues etc. Usually in Florida, the buyer will pay for a Phase I environmental to be completed in a certain number of days and then, if a Phase II is required, the buyer will have an additional time frame for that. However, this is certainly negotiable so the buyer can certainly try to negotiate the contract so that the seller pays, especially in this buyer's market.
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