Buyback

We want to remove the risk of loose fill asbestos insulation from the Canberra community.

After receiving a $1 billion loan from the Australian Government, the ACT Government responded in October 2014 with a plan to remove the legacy from the Canberra community through the Loose Fill Asbestos Insulation Eradication Scheme (the Scheme).

The Scheme has three components; the voluntary Buyback Program, the Demolition Program and the Sales Program.

When a homeowner submits a buyback program application they take the first step in receiving two free independent valuations for their affected house, without making any commitment to sell their house to the ACT Government.

Each homeowner's situation is different.

The Taskforce's Personal Support Team remain available on 13 22 81 or by email to asbestostaskforce@act.gov.au to discuss your individual circumstances.

The Buyback Program Process

Opting in

  1. Read Voluntary Buyback Program Guide (PDF 646KB) if you own a house or the Voluntary Unit Buyback Program Policy (PDF 765KB) if your property is part of a units plan.
  2. Read the Relocation Assistance Grant Guide (PDF 478KB).
  3. Complete the Buyback Program Application Form (PDF 598KB).
  4. Submit the signed and scanned completed form via email to asbestostaskforce@act.gov.au or post it to The Asbestos Response Taskforce, Buyback program, GPO Box 158, Canberra City ACT 2601.
  5. Your completed application will be processed by the Taskforce. The independent valuers will then be notified through the Australian Property Institute ACT.

Getting valuations

  1. Two independent valuers will contact you to arrange valuation inspections.
  2. When the valuation takes place, the valuer ignores the presence of loose fill asbestos and minor maintenance and presentation issues and values the property at a market price as at 28 October 2014.
  3. The Australian Property Institute will send the two valuation reports to you and the Taskforce at the same time.

Receiving the ACT Government Offer

  1. The ACT Government through the Taskforce will make a written offer to a homeowner to buyback the affected house based on the average of the two valuations.
  2. If the valuations vary by over 10% then the Taskforce may choose to request a 'Presidential Determination' by the Australian Property Institute and the resulting figure will then become the offer from the ACT Government. A homeowner may also decide to elect for a “Presidential Determination’ to take place.
  3. The homeowner has 60 working days to decide whether or not to accept the buyback offer.
  4. When a homeowner decides to proceed with the buyback they are provided with a surrender deed/contract of sale for the property.
  5. Before signing this deed/contract a homeowner will be required to seek independent legal advice – just like in a normal sale process. The Government will give a homeowner $1,000 toward that advice if you complete the surrender of the Crown Lease or sale of unit process.
  6. The Taskforce's Personal Support Team remain available on 13 22 81 or by email to asbestostaskforce@act.gov.au to answer your questions.

Transitioning to a new home or new living arrangements

  1. When the property is vacated an owner occupier or tenant becomes eligible for a relocation assistance grant to assist in transitioning to a new home or living arrangement. Landlords may also apply for some assistance. Refer to the following documents for further information:
  2. The Utilities Support InfoSheet provides guidance to homeowners and tenants on a range of connection/disconnection concessions available through ActewAGL and Icon Water.
  3. The Taskforce has been in contact with the Australian Furniture Removal Association to assist local removalists to understand the considerations of moving from a Mr Fluffy house. Ensure you advise your removalist that your property is affected.
  4. Once settled, the property becomes an ACT Government asset. If a homeowner wants to re-enter a property after settlement, they must obtain a special permit from the Taskforce.
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