Transaction Screen (ASTM E1528)

The Transaction Screen Process is the simplest method of evaluating a property for environmental concerns; however, it does not provide EPA liability protection. The user of a property, his or her agent, or an environmental professional can conduct the transaction screen. The Transaction Screen Questionnaire guides the process, which includes:

• Interviewing the owners and occupants of the property. The interview attempts to determine such things as whether the property or adjacent properties have been used for industrial activities or storage of hazardous materials, and whether any underground storage tanks have existed on the property.

• Observing the site in person to look for specific evidence of possible environmental contamination. Examples include stained soil, contaminated fill dirt, or fill and vent pipes associated with indications of underground storage tanks.

• Researching government and historical records to identify potential sources of environmental contamination that could affect the property, and to look for evidence of past industrial activities. An environmental research service is often contracted to search state and federal databases for potentially contaminated sites near the property.

The greatest value of the transaction screen is probably as an initial investigative tool for less expensive properties. Someone involved in the sale – the financial institution, the buyer, or his or her agent – can complete the transaction screen. If no evidence of environmental concerns is found, this may provide enough assurance to the parties involved. On the other hand, the transaction screen may reveal information that should be investigated further by a trained environmental professional.

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