What if I don't take up the First Right of Refusal, but later decide I want to buy the block at auction?

There is nothing to prevent you from participating in any public sale process for the new Crown lease on the remediated block even if you declined to exercise your First Right of Refusal.

It is important to note that the sale price offered to the First Right Holder will set the reserve price, therefore they will not sell for less than what was offered through the First Right of Refusal process. It is expected that these blocks will achieve a higher sale price than the reserve.

In such circumstances, if the former owner was to buy their block back through a public sales process, the restrictions in relation to owner-occupation and time of residence would not apply.

Should the sales process for a remediated block not occur within the 6 months of the valuation, the Territory may elect to seek an updated valuation through the Suburban Land Agency. This revised valuation will then be used to set the reserve price in the public sales process.

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