Can I find out the cost to repurchase my block, but stay in my house until close to the demolition?
Yes. It remains possible for owners of affected blocks to reside in their house, subject to the completion and continuation of mandatory Asbestos Management Plans, until close to the demolition.
To initiate the process of determining a sale price the Deed of Surrender must be exchanged, but not necessarily settled.
Valuations can only be undertaken six months prior to the expected demolition of an affected property, and a Deed of Surrender must be exchanged to enable a property to be scheduled for demolition.
After being advised of the purchase price of the remediated block, homeowners who are yet to surrender can:
- proceed to surrender the affected block in accordance with the Deed of Surrender; or
- rescind the Deed of Surrender and leave the Scheme entirely.