Owners of red-zoned properties on Christchurch's Port Hills will receive information about the Government offer for their properties next week.
Since June, 406 properties on the Port Hills have been zoned red because of the risk of rock falls and cliff collapse.
A further 45 are still zoned white pending final analysis of their land.
Canterbury Earthquake Recovery Authority chief executive Roger Sutton says the Government offer will be similar to the one made to other property owners, and will be valid until 31 August 2013.
It will allow settlement within six weeks of acceptance, which is faster than for those living on flat land, because of the dangers facing people with affected hillside homes.