Japanese Knotweed Management Plan

DiscoPistol

Hi all,

I recently put my house on the market and while taking some photos my estate agent found some Japanese Knotweed at the bottom of the garden.

I'm in the process of getting a Management Plan together for any prospective buyer and I've come across a question and was helping that someone had some experience or knowledge they could share.

I have 2 quotes of similar amounts, both with multi year plans and both with reputable companies.

The difference is that one offers an Insurance Backed Guarantee (which costs as much as plan!). So far as I can tell this is a guarantee in case they go out of business....

So my somewhat generic question is, is this IBG a bit of a swizz and would mortgage companies be okay with just a Management Plan or would they need the IBG before they made an offer. Or, as I suspect, would it depend on the company, the property and the color of the socks that the buyer was wearing....

Thanks

DP

propertyman

Like any insurance, its an expensive luxury.

......Until the day you need it.:eek:

The key with these insurances is that it is is with a reputable insurer and is comprehensive and covers most or all contingencies without significant exclusion.

Davesnave

If the quotes are for similar amounts, why are you bothered?

The main question to ask yourself about JK, assuming it's not close to foundations, is not whether it's on your land, but how much of the clump is on neighbouring property.

Controlling JK oneself can be relatively easy, if long-winded, but it's doomed in the long term if neighbours harbour the plant and do nothing.

DiscoPistol

To clarify the price of the Management Plans are the same. The IBG is an additional £1600.

It's a sufficient distance from the house apparently (13 metres) and entirely on my land.

DiscoPistol

propertyman wrote: »

Like any insurance, its an expensive luxury.

......Until the day you need it.:eek:

The key with these insurances is that it is is with a reputable insurer and is comprehensive and covers most or all contingencies without significant exclusion.

Completely agree. However(!)

This might sound a bit selfish but all I want to do is ensure that any prospective buyer can get a mortgage.

Don't get me wrong, I'm not going to cut it back and hope they have a dodgy survey (actually I think I might have to declare it anyway) but I don't want to pay a £1600 premium if it's not required.

Of course if it is required then so be it. Now where is the phone number of my surveyors who missed it a few years ago.... :mad:

mysti77

DiscoPistol wrote: »

Hi all,

I recently put my house on the market and while taking some photos my estate agent found some Japanese Knotweed at the bottom of the garden.

I'm in the process of getting a Management Plan together for any prospective buyer and I've come across a question and was helping that someone had some experience or knowledge they could share.

I have 2 quotes of similar amounts, both with multi year plans and both with reputable companies.

The difference is that one offers an Insurance Backed Guarantee (which costs as much as plan!). So far as I can tell this is a guarantee in case they go out of business....

So my somewhat generic question is, is this IBG a bit of a swizz and would mortgage companies be okay with just a Management Plan or would they need the IBG before they made an offer. Or, as I suspect, would it depend on the company, the property and the color of the socks that the buyer was wearing....

Thanks

DP

Hi,

From personal experience selling our flat (completed a few weeks ago). The mortgage company wanted the Insurance backed warranty. The buyer also wanted the warranty as they were the one taking the 'risk' according to them so I had to pay for it. A lot of people are worried about the knotweed because of all the scaremongering going on in the media etc. and it seems they will run a mile unless you can reassure them.

I also didn't have it come up on my survey although it was definitely in the neighbor's garden very close to my garden and they cleared theirs but it showed up in my garden later on. Apparently 2 years + ago it wasn't something that was looked into. It is now a question on the property information form your solicitor makes you fill out so no avoiding it.

Can you get the Management plan without the insurance and if the buyer needs the insurance pay for it only then and there?

propertyman

DiscoPistol wrote: »

This might sound a bit selfish but all I want to do is ensure that any prospective buyer can get a mortgage.

Don't get me wrong, I'm not going to cut it back and hope they have a dodgy survey (actually I think I might have to declare it anyway) but I don't want to pay a £1600 premium if it's not required.

Of course if it is required then so be it. Now where is the phone number of my surveyors who missed it a few years ago.... :mad:

On the latter point if you can prove it was there, then you might be able to sue them and they claim on their PI insurance.

Does your current home insurance include legal fees as this will make it easier to claim.

On the rest thats not the question you asked

If, and there are lenders who will lend,

- they will want a robust plan and will want it insurance backed
- as will a purchaser

just make sure the plan can be assigned to another home owner.

If you stay put then the £1600 is still worth it if there is risk that you want to protect against by insuring.

DiscoPistol

Thanks both,

I have emailed the previous Surveyors and am awaiting a reply.

As for your answers (and I'm pretty sure in my head that was the question I asked ) if I was buying I'd want a robust plan as well so I can't complain too much.

My only problem now will be the finacial side of things. I certainly don't have £4000 lying around to spend on a gardening. Time to check my home insurance.

Thanks again.

mobfant

I've got an offer in on a property that has knotweed. Debating what to do next, but for you I'd say definitely get the insurance-backed guarantee - Abbey make it a condition of granting a mortgage so I'm sure others will.

Also, make sure the company you use is one accredited with the Property Care Association and follows their (and the Environment Agency) guidelines in their management plan.

http://www.cml.org.uk/cml/policy/issues/6633

Also, this guidance is from the Royal Institute of Chartered Surveyors:

RICS: The management plan should be based on that included in the Code of Practice published by the Environment Agency and should thus be consistent across the industry. As a minimum, a management plan should include the following features:

1. A description of the property with an accurate record of the Japanese Knotweed infestation.
2. A scaled plan with dimensions and supporting photographs would be particularly useful.
3. The full details of the contracting organisation and a description of the methods to be used to eradicate Japanese Knotweed.
4. A treatment schedule that is updated as treatments are carried out.
5. A completion certificate that confirms the treatment is complete and that the Japanese Knotweed at the property has been remediated.


https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&ved=0CDUQFjAB&url=https%3A%2F%2Fconsultations.rics.org%2Fgf2.ti%2Ff%2F275138%2F6179845.1%2FPDF%2F-%2FJapanese_Knotweed_and_residential_property.pdf&ei=fT9tUoaiNsfK0QX3hYGICQ&usg=AFQjCNFYyp2Xf23wa6LCWHzsOmOW4RVM8g&sig2=PvHZSYQcJ--SAuE2q4SUag&bvm=bv.55123115,d.d2k

trollopscarletwoman

There seems to be a lot of excitement about j knotweed.

I lived in the south wales valleys. Loads of knotweed.

Houses never fell down and didn't crack.

I just kept digging it.

This is 8 years on mind so perhaps things have changed.

Riggster

Worry about it if and when a buyer raises it as an issue. In the meantime dig it up, cut it down, burn it and spay appropriate weed killer all over it. There's plenty of JKW adjacent to my garden. Spraying it is actually effective.