A report prepared in connection with a Phase II Environmental Site Assessment. A Phase II Environmental Site Assessment includes gathering samples of soil or water (surface and ground), or both, at the property, to test for hazardous materials or environmental contamination. A Phase II Environmental Site Assessment is usually required when an environmental condition is discovered during a Phase I Environmental Site Assessment or when additional environmental testing is recommended because of findings discovered during a Phase I Environmental Site Assessment. A Phase II Environmental Site Assessment may also be required based on a property's prior use. Uses of real property that often create the need for a Phase II Environmental Site Assessment include:

In these cases, a lender or potential purchaser typically requires a Phase II Report to evaluate the environmental status of the property, regardless of whether the Phase I Report indicates possible environmental contamination.