After the close of the buyback program, homeowners may choose to manage their affected property through:
- private demolition and private sale
- sale to the Territory under the Purchaser of Last Resort (384.9 KB) offer
Homeowners and tenants of affected properties continue to have a legal obligation to advise anyone entering their property that it is contaminated with loose fill asbestos insulation, and to maintain and display a copy of their Asbestos Management Plan.
How POLR works
This is a standing offer to purchase any remaining affected properties not surrendered under the Loose Fill Asbestos Insulation Eradication Scheme.
This offer is for the registered owners of an affected property as at the date the affected property was added to the Register. The government will:
- offer to purchase an affected property that is not surrendered under the buyback program and has failed to sell on the open market, subject to conditions outlined in the Purchaser of Last Resort Guidelines (384.9 KB)
- pay the average of two independently determined market valuations for the property at the time, explicitly taking into account the presence of loose fill asbestos insulation, as well as presentation and condition issues
Unlike the buyback program, the POLR does not provide:
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