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Typical House With Former Small Furniture Manufacturing Buildings

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pcpllc

Freshman Member
Joined
Nov 20, 2010
Professional Status
Certified General Appraiser
State
Mississippi
Got an FHA with 2 several thousand SF metal buildings on site with lots of trash/junk stacked up inside. Borrower says former owner was manufacturing furniture on the site. Lots of drums and old tires scattered in and on thee metal buildings. Should I require a Phase I and make the report subject to a clean environmental bill of health?
 

Dublin ohio

Senior Member
Joined
Mar 20, 2008
Professional Status
Licensed Appraiser
State
Ohio
You don't require anything...you recommend.

Exactly. Consider what would be used in furniture manufacturing. Various type of adhesives, stains, solvents, formaldehyde and depending how old the facility is you could have numerous chemicals that are either more highly regulated or not used today due to changes in regulations. Better to be safe than sorry.
 

Meandering

Elite Member
Joined
Feb 26, 2006
Professional Status
Real Estate Agent or Broker
State
Pennsylvania
Agree, with the above.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Junk. Caveat it away. Like above, you "Require" nothing. It is the lender's decision.
 
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