Accord Appraisals recently assessed a 30-hectare land parcel under an Environmental Conservation and Living Zone—uncovering significant risks that rendered it unsuitable for mortgage purposes.

Key Findings:

• Ongoing EPA Investigation – Unlawful dumping under scrutiny since 2020, with the latest notice issued July 3, 2024.
• Cost Burden – EPA levy $5-6M, with remediation costs potentially exceeding $10M.
• Market Impact – Low demand, extended selling period (12+ months), and remediation costs exceeding market value.
• Mortgage Risk – The property presented an unacceptably high risk, making it unsuitable for mortgage security.
• Have you encountered similar challenges in contaminated land valuations? Let’s discuss.