Record Search w/ Risk Assessment (RSRA)
A RSRA is an inexpensive due diligence product that allows a lender to quickly evaluate environmental risk associated with a property. A RSRA is typically used by lenders and the U.S. Small Business Administration as the first step of a tiered approach to their environmental due diligence, prior to closing on a loan application. This form of assessment is strictly a records review conducted by an Environmental Professional (EP). The EP provides evaluation of environmental risk associated with a property, and offers opinion of whether further environmental due diligence is recommended or not. A RSRA does not follow any ASTM standard and does not provide any protections under CERCLA. If qualification for one of the CERCLA Landowner Liability Protections is desired, the RSRA should not be applied and a Phase I ESA should be conducted.