Griffin and Murrumba Downs residents told by the State Government their new or established homes would be taken for Bruce Highway upgrades are being urged to check their legal rights.
Slater and Gordon Land Acquisitions Senior Associate Adrian McMillan said homeowners may be eligible for the Transport and Main Roads’ early resumption policy, where compensation could be claimed to avoid financial hardship.
“It may be in the best interests of the homeowners to begin the acquisition process with the State Government as quickly as possible to know where they stand financially, especially in an uncertain (housing) market,” Mr McMillan said.
“It’s best to seek independent legal advice to guide you through the process of working with the State Government to fast track the resumption and compensation to get as close to the current market value as possible.
“These owners have had the carpet ripped from underneath them. Waiting until midway through next year won’t be an option for them.”
Around 80 residents either side of the Bruce Highway in Murrumba Downs and Griffin will be impacted by the $2 billion upgrade from the Gateway Motorway to Anzac Ave.
Mr McMillan said house values may fall next year while some could be looking at the value of an incomplete home.
“These issues require advice and may be better managed if owners are proactive,” he said.
“Some new owners in Griffin may have additional complications, including contractual obligations to complete building or questions about whether the developer knew of the proposed acquisition and failed to disclose it at the time of selling the land.
“Having an expert valuer, engaged by a lawyer, undertake a market value assessment carried out as soon as possible may help owners decide how to deal with circumstances of incomplete builds or the timing of the acquisition.”
Mr McMillan said many owners would likely be eligible for the early resumption policy as they would not be in a financial position to cover relocation costs, stamp duty and deposits to buy a new home.
“It’s the least the State Government could do for them,” he said.
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