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With farmland prices in some areas up 20% since just the beginning of 2022, assessing the viability of any property is more important than ever before lending on it or purchasing it. RADIUS from Passkey Partner CREtelligent is an interactive, online tool that delivers cost-effective environmental due diligence support.
RADIUS enables lenders to easily map and identify subject properties and adjust parcel boundaries with drawing tools. Once a property parcel is identified, the user can order instant environmental reports that search regulatory databases for documented issues, such as previous livestock dips or waste storage. The automated “EnviroPreScreen” reports are typically available in under a minute and include an alert level for each environmental issue so customers can gain an idea of what might be involved in any future risk mitigation.
“RADIUS can be a key tool in the due diligence process as a low-cost prescreen to identify environmental issues before a customer-owner buys an at-risk property or you offer a loan,” says Daria Milburn, a product manager overseeing CREtelligent’s environmental lines. “It’s an easy risk management tool that can protect both the lender and the borrower.”
With RADIUS, users can map multiple parcels and include neighboring land as well. If there’s any confusion about the results, CREtelligent’s on-staff environmental professionals are available to interpret report results and also provide additional, more in-depth assessments. The company offers three service tiers, in addition to offering automated quotes for custom projects:
• Automated, instant screening reports, including the EnviroPreScreen, a property condition prescreen, and a climate screen report which highlights risks related to drought, flood, fire and storm events.
• Desktop-level review and additional research by environmental professionals from the office.
• Full assessments such as Phase I, Phase II or even ALTA land surveys to fully assess the subject and nearby properties.
“CREtelligent is high-tech when you want it, and high-touch when you need it,” explains Gary Kulik, the company’s marketing director. “RADIUS helps speed report ordering and delivery, and our client success team is there to provide expert advice.”
CREtelligent offers discounted services to Passkey Members, including free months of service at certain subscription levels. For more information about CREtelligent, visit their Passkey landing page; to learn more about the RADIUS platform, email Daria Milburn.
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