Real Estate

p 2 ENVIRONMENTAL ISSUES IN REAL ESTATE Real estate transactions involve the purchase of land properties and generally , environmental issues are frequently considered before a sale is completed . Environmental issues are usually taken into account , be it a residential real estate property , or a huge industrial piece of land . Should environmental risks be associated in a particular real estate property , these are frequently manageable , but the more critical issue regarding environmental issues is the efficient identification and reaction to these environmental issues (Goeters , 1996 . Most problems arise after a real estate

property sale because the environmental issues were not detected as early as possible

The most common environmental issue that is associated with real estate is land contamination . Such environmental issues generally come from the activities of the present or past owners , or better categorized as on-site contamination . Another source of land contamination could be off-site , which involves the physical location of the real property to outside sources of contamination . It is important that the source of the contamination of the land be identified so that the amount of risk may be determined . In addition , knowledge of the contamination source allows sanctions for property responsibility . Issues are considered severe when the water reservoir and its connecting waterways for drinking water are already affected or positioned near the real estate property

Another environmental issue that is considered as a major concern in real estate is mold contamination . The spread of pathogenic fungi and its spores frequently originate from buildings that are erected using low-quality standards and currently have poor ventilation . Such fungi often generate spores that are usually air-borne and may be transmitted through wind and any air circulating system . These spores may also stick to the walls of an existing building that is situated on the real estate property . Not only do fungal spores cause future deterioration to a building , these spores may even cause upper respiratory tract infections , allergies and immune reactions in the individuals that frequent the area involved . Several lawsuits have accumulated in connection to personal injuries or diseases causes by exposure to these pathogenic fungi . In addition , the insurance industry has lately been involved in cases that involve exposure to building-related real estate properties . Furthermore , fungal contamination involves all types of real estate properties , including residential , commercial and industrial buildings , and the effect of such contamination is doubly felt because the building 's structure itself will continuously deteriorate unless treated , and the residents of the home or the employees of a commercial or industrial company make succumb to fungi-caused illnesses . It has been strongly suggested that owners of real estate properties be cautious of the insurance coverage they procure for their employees should such untoward incident occurs in their company or industry

Asbestos is also an environmental issue that should be carefully considered in real estate . Asbestos is generally a component of pipes and boiler rooms , as well as in flooring materials and in roofs Asbestos exposure cases are often higher in number in commercial and industrial...