If your home was built before the 1980’s it could be affected by hazardous loose-fill asbestos insulation.
Loose-fill asbestos is raw crushed asbestos which was installed as insulation in the 1960’s and 1970s and over time hazardous airborne fibres can move from the ceiling into your living space.
Your home can be the biggest investment that you will make but if your home contains loose-fill asbestos insulation its value in the market will be affected.
The NSW Government is proposing new laws to protect the community from unknowingly purchasing a property that contains loose-fill asbestos. Under these laws when selling your property you must confirm in the contract of sale if your property;
– Contains loose-fill asbestos; or
– Is free from loose-fill asbestos.
If you do not comply with these laws you risk significant financial loss and potential legal action.
What is the solution?
The NSW Government’s assistance program offers you an opportunity to protect yourself from the financial consequences of loose-fill asbestos.
NSW Fair Trading will provide financial assistance and support to affected homeowners and tenants but you must register by 1 August 2016.
How can you protect yourself?
– Register for a free sample test available until 1 August 2016. If you get in early, you may be able to take advantage of the 100 free tests allocated to Gundagai/Cootamundra Council.
You can register online at fairtrading.nsw.gov.au or by calling 13 77 88.
– If your home is outside the identified local government area then homeowners are encouraged to arrange ceiling testing through a licensed asbestos assessor and if the result is positive then the cost of the test will be refunded.
– Remember when buying or selling a house discuss whether the property has asbestos with your real estate agent and solicitor.
For further information see www.fairtrading.nsw.gov.au or call us to discuss.
Author: Tracy Craw
This article is general information only and should not be relied on without obtaining further specific information.