Register before 1 August 2016 for a free sample test for loose fill asbestos to qualify for assistance
What are loose fill asbestos?
Loose fill asbestos is raw crushed asbestos used in the 60's and 70's for insulation. The air borne fibres can migrate from the roof cavity and into your home.
As we all know, the inhalation of asbestos fibres can cause serious and terminal illness.
About the free sample test
Following the ACT's lead, the NSW government will introduce new requirements to ensure that a contract for sale of land discloses whether or not a home contains loose fill asbestos, so that purchasers become aware of the existance of asbestos in the property.
In order to determine if your home contains loose fill asbestos, a home owner can now arrange for a free sample test. Take advantage of the assistance of NSW Fair Trading and register the property before 1 August 2016 (Cut Off Date).
If the property does contain loose fill asbestos, NSW Fair Trading may provide significant financial assistance by buying the affected property from the home owner at market value. Additionally other support such as relocation assistance, demolition, counselling services and soft furnishing allowances are available. There will also be significant stamp duty concessions on a new purchase of property within NSW after the affected property has been sold.
A home owner can still pay for a test after the Cut Off Date, but they would not be entitled to any financial assistance or other support from NSW Fair Trading.
Under the assistance program a home owner may sell their property to the Government at market value by entering a Contract for Sale. Alternatively, a home owner may choose to keep the property but demolish it in lieu of payment of market value in which case a Licence Agreement will be entered into.
Home owners and tenants are entitled to financial assistance for up to 12 months from the date of a Contract of Sale or Licence Agreement have been entered into.
It is possible that home owners may experience some difficulty selling or renting their property if they fail to register and the property is found to contain loose fill asbestos.