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Homebuyers Seek Risk Information

Jason Hicks |

WASHINGTON, D.C. — Real estate agents say they are seeing an increase in awareness of environmental contamination among home buyers, according to a survey from Environmental Data Resources (EDR), a leading provider of environmental risk information based in Milford, Conn., and more shoppers are researching environmental information before purchasing homes.
A survey of 150 real estate professionals attending the National Association of Realtors (NAR) 2007 Midyear Legislative Meetings & Trade Expo this month in Washington D.C., says that potential buyers are increasingly concerned about environmental hazards. And more realtors are providing in-depth investigations of historical environmental information from a neighborhood.
“The findings of this survey indicate that real estate professionals and the majority of home buyers they work with are increasingly aware and concerned with the environmental health of properties,” says Ben Cesare, managing director of residential real estate services for EDR, “and real estate agents want to confer with trained experts to identify all information available.”
“Purchasing a home and choosing a neighborhood can be some of the most important decisions we make, and home buyers are now more aware of their right to access records of known potential environmental contamination as part of the decision process,” Cesare adds.
A resounding 94% of survey participants said potential environmental contamination has become an influencing factor in purchase decisions, the survey says. More than 70% of the realtors say they are willing to help clients practice due diligence prior to a purchase.
While two-thirds say homebuyers have only recently become interested and aware of their ability to learn the environmental history of properties, 84% say home buyers are taking advantage of extra time afforded by the recent market slowdown to look deeper into property histories.

About the author

Jason Hicks

American Drycleaner

Jason Hicks was assistant editor for American Trade Magazines, which publishes American Coin-Op, American Drycleaner and American Laundry News, for more than nine years, and web editor for three years.

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