Buyer beware – Realize the importance of an environmental site assessment
Abstract: As they sell and repair vehicles, automobile dealerships may release hazardous materials into the surrounding soil, such as gasoline, solvents, used motor oil and antifreeze. This makes environmental liability one of the biggest risks dealerships face. Thus, it’s critical to properly dispose of hazardous materials to reduce risk exposure. But, as this article explains, that’s not all: When dealers are considering buying or leasing another dealership, they should make sure they won’t be held liable for environmental contamination that may already exist on the property.