Real Estate Agent’s Frequently Asked Questions
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Who is EDR?Environmental Data Resources, Inc.
(EDR) is the nation’s leading and most trusted provider of
environmental risk information services for real estate transactions.
With the largest collection of local, state, and federal environmental
information in the U.S., it generates over 750,000 environmental risk
reports a year in support of real estate transactions as well as
corporate and government initiatives. Established in 1991, EDR is
headquartered in Milford, Connecticut with regional offices located
throughout the United States. EDR is wholly owned by DMG Information
Inc., the business information division of Daily Mail and General
Trust, plc (DMGT).
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Will the EDR Neighborhood Environmental Report unecessarily frighten homebuyers?The
EDR Report provides valuable information that allows a home buyer to
make an informed decision and protect both his family and his
investment. In most cases, the EDR Report will show “Good News!”
indicating there are no issues within 300 feet (or a 6-acre circle) of
the property. This information helps provide homebuyers with peace of
mind when making what is likely the biggest investment of their
lifetime.
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If homebuyers have any questions about findings in the report who will answer them?
All EDR-Certified inspectors must complete a training
course and are prepared to deliver the report’s findings to a
buyer or seller as well as provide follow up direction where necessary.
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Are EDR reports a "green" service?EDR believes in order to be green you have to be clean. That means it is important to examine what has happened in the past on a property or in a neighborhood.
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If the EDR report finds an issue of concern on the property won’t the transaction fall through?As
in a home inspection, just because a problem is revealed, it does not
mean that the transaction will fall apart. It may result in some
further negotiations but all parties will be informed and able to take
the appropriate steps to solve the issue. Often times the problem can
be resolved by installing a water filtration system or a ventilation
system similar to those used for radon.
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If a significant environmental issue is found in a report, what are the next steps?Next
steps vary slightly depending on the type of issue found and specific
circumstances. For example, if there is a well on the property, a
homebuyer may choose to have the water tested for possible
contaminants. In most cases, acquiring additional information and
explanation from the home inspector, relevant government agency, or EDR
will address any concerns. The report contains contact information for
the government agency responsible for reporting and monitoring
contaminated sites.
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Will the report create unecessary problems and complicate the transaction?The
vast majority of EDR Neighborhood Environmental Reports will not find
significant environmental issues that can interfere with a transaction.
From a risk management standpoint, if a problem is found, disclosing it
is in the best interest of all parties. Also, keep in mind that
identifying and properly reporting environmental issues reduces the chances for last- minute surprises, difficult
negotiations, and post-closing problems.
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What is the benefit to the seller?Because
in most cases the EDR Report will not find any significant issues on a
property, it can increase buyer confidence and makes the property and
surrounding neighborhood more attractive. In a case where a problem is
serious enough that it is not easily rectified, then disclosing the
issue provides some liability protection for all parties involved.
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What is the benefit to the buyer?The
report provides the homebuyer with important information that increases
their peace of mind that there are no hidden problems on the property
they are considering that could affect their family’s health or
investment, and that they are making the best choice.
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