TRANSACTION SCREEN ASSESSMENT (TSA)
Transaction Screen Assessments adhere to the ASTM Standard E-1528-14, and are essentially a scaled down version of the Phase 1 Environmental Site Assessment. The Transaction Screen includes a site visit, regulatory records review, key personnel interviews and limited environmental research.
Transaction Screen Assessments are an effective method of environmental due diligence for certain types of properties in which environmental concerns are not anticipated. This might include office buildings, multi-family housing, or other low risk sites. Lenders often utilize Transaction Screen Assessments for lower value loans. In these instances, the Transaction Screen is a lower-cost alternative to the Phase 1 Environmental Site Assessment and can be a useful tool in a lender’s environmental policy.
G|E|M's TSA reports go beyond the ASTM Standard; however it should be noted that they do not meet the standard of All Appropriate Inquiry, and do not aid in "Innocent Landowner Defense".