ASTM E1527 (Standard Practice for Environmental Site Assessments)

ASTM E1527 is a guideline used primarily in real estate transactions to assess potential environmental hazards at a property. This standard outlines the process for conducting a Phase I Environmental Site Assessment, which includes researching the property’s history, inspecting it for signs of contamination, and checking nearby sites. The goal is to identify any environmental risks, such as hazardous materials, that could affect the property's value or safety. Essentially, it helps buyers and lenders make informed decisions by understanding environmental issues associated with a property before a purchase or investment.