What is a historical recognized environmental condition (HREC)?
A historical REC is a past release that was cleaned up to a regulator's satisfaction for unrestricted use, with no controls left on the property.
In more detail
Since the 2021 update to the Phase I standard, the consultant must explain why a past release counts as an HREC, for example by reviewing whether the cleanup would still meet today's standards.
An HREC is not a REC. It is listed in the report so the buyer knows the history.
What it means when you buy
An HREC usually doesn't block a purchase, but keep the closure letter. Lenders and future buyers will ask for it.
How the pre-screen handles it
The pre-screen lists closed cases with their closure dates so you know which ones to ask the seller about.
Pre-screen a property before you spend on a Phase I
A desk review of one address: past uses from historical photos and maps, federal and state environmental records, and flood risk, ready usually within the hour. $100 for one report, or $100/month for 3.