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Japanese Knotweed and more...
chrisc1983
Posts: 12 Forumite
Afternoon all,
We recently had an offer accepted on our first home and have just had the results of the survey back.
The offer accepted was £116,500 with an asking price of £120k (subject to survey).
The home buyers report has flagged up a few Level 3 issues:
- Japanese Knotweed in the garden
- Electrics
There are a couple of 2's such as the tiling on the roof but I expected that as the house is around 100 years old.
The valuation has come back as £115,500 subject to the Japanese Knotweed being removed at an estimated cost of £1k - making the valuation what we had accepted.
What does everyone think we should do next? I'll definitely be asking the vendors to remove the Knotweed but don't know whether to do anything else further - as in reduce the price or fix the wiring?
We recently had an offer accepted on our first home and have just had the results of the survey back.
The offer accepted was £116,500 with an asking price of £120k (subject to survey).
The home buyers report has flagged up a few Level 3 issues:
- Japanese Knotweed in the garden
- Electrics
There are a couple of 2's such as the tiling on the roof but I expected that as the house is around 100 years old.
The valuation has come back as £115,500 subject to the Japanese Knotweed being removed at an estimated cost of £1k - making the valuation what we had accepted.
What does everyone think we should do next? I'll definitely be asking the vendors to remove the Knotweed but don't know whether to do anything else further - as in reduce the price or fix the wiring?
0
Comments
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Get the vendors to remove the knotweed. I've read it can take a long time though ...
2k ish for new wiring but expect to redecorate after.0 -
Do you think we should look to lower the price based on the electrics?
I doubt the vendor will agree to removing the Knotweed and lowering the price?0 -
You will need proof that the knotweed has been dealt with properly and not just attacked with a pair of secateurs, it can spread like there's no tomorrow even if only a small amount of root is left.0
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chrisc1983 wrote: »Do you think we should look to lower the price based on the electrics?
I doubt the vendor will agree to removing the Knotweed and lowering the price?
Yes.
Don't buy it then.
There's a lot of other houses out there.0 -
How many neighbouring properties have the knotweed problem? The property could easily be repopulated with the knotweed if it isn't isolated to your property. So resale etc in the future, and ongoing costs to control further encroachments and damage in the future. I doubt if the eradicators will say that the problem is completely dealt with. Sorry if it sounds pessimistic, but I would want to find out how big the knotweed problem is in the neighbouring area really.
Knotweed breaks through concrete!!0 -
when i was looking for houses a few months ago a house on rm had japanese knotweed (ea were open about this). EA were looking for a cash buyer only as they said most lenders wouldn't lend on a house with this problem.
0 -
We are going to get a report done on the Knotweed and then get our solicitor to get the vendors to get it sorted.
We'll get the electrics checked out and make a call on what we should do about the offer - I'd suspect we'll look to lower it based on the survey.
Any ideas how much a Knotweed report may cost?0 -
Knotweed needs the ground excavated to 1.5m and soil replaced.0
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This is the Wikipedia article about Knotweed. I am not sure how accurate it is, but it seems to suggest it can take 3 years to get rid of the stuff properly.
http://en.wikipedia.org/wiki/Japanese_knotweed0 -
was recently watching one of those, buy-a-house-at-auction progs and someone on there was refused a mortgage because of the knotweed in the garden.0
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