X
X
Where did you hear about us?
The monthly magazine providing news analysis and professional research for the discerning private investor/landlord

Almost half residential sales have no environmental survey

According to GroundSure, an environmental reporting company, 44% of residential property transactions that took place in 2006 were carried out without an environmental survey.

Paul Livett, managing director of GroundSure, said: “I find it amazing that so many residential property transactions take place without an environmental survey. When you consider the potential risks involved, and the fact that contaminated land, subsidence and flooding are some of the most significant issues in any property transaction; it surely makes sense to carry out environmental checks before making what is likely to be the single largest purchase an individual makes in their lifetime.”

The survey will reveal whether a site has ever been used for commercial or industrial operations, such as a mining site, brickfield, gas works or a quarry. Household insurance policies often do not provide appropriate cover for environmental risks. As a result, homeowners could be liable for clean up costs incurred by contaminated land or may be unable to sell their property for its correct market value.
Living in a home that is situated on contaminated land can also cause health problems for residents due to significantly elevated concentrations of certain toxic metals.

If you want to read more news subscribe

subscribe