What are "environmental assessments" typically used for?

Environmental assessments are primarily conducted to identify potential environmental risks associated with a property. These assessments play a critical role in real estate transactions, particularly in understanding the environmental liabilities that could impact the property's value and usability. They involve analyzing past and present land uses, checking for contamination from hazardous materials, and evaluating the surrounding environment for any risks, such as flooding or pollution.

Understanding these risks is essential for buyers, sellers, and lenders, as environmental issues can lead to significant financial liabilities or legal obligations. An environmental assessment helps stakeholders make informed decisions, ensuring that any potential environmental concerns are addressed before completing a transaction. Thus, C is the most accurate answer, as it captures the main purpose of these assessments in the context of real estate.