Property with Japanese Knotweed- worth the risk?

Mossfarr

Hi everyone,

I am currently considering buying an ex local authority property as a buy to let but have discovered a previous attempt to purchase fell through as the mortgage was refused.
Although there was no mention in the advertising I found our that the garden has Japanese Knotweed so is considered unmortgageable (the estate agency, who had no knowledge, is very annoyed they weren't informed by the vendors).
I would probably be able to get enough together to buy without a mortgage but is it worth the risk?
Apparently the Knotweed in the garden has been treated by the vendors but it originates from an electricity substation next door which doesn't appear to have been treated.
any thoughts??

Davesnave

Electricity dirstributors will be possibly be more responsive to their duties of care to ensure it doesn't spread than private individuals, and at least you know they have the funds if it comes to enforcement.

However, it has spread, so I'd guess it's perhaps difficult to prove origin.

In the first instance, I'd contact the electrical people to see how they respond and also check neighbouring gardens. The former should be open to entering into an eradication programme.Do it quickly, as JK will soon be going into hibernation mode.

ognum

Mossfarr wrote: »

Hi everyone,

I am currently considering buying an ex local authority property as a buy to let but have discovered a previous attempt to purchase fell through as the mortgage was refused.
Although there was no mention in the advertising I found our that the garden has Japanese Knotweed so is considered unmortgageable (the estate agency, who had no knowledge, is very annoyed they weren't informed by the vendors).
I would probably be able to get enough together to buy without a mortgage but is it worth the risk?
Apparently the Knotweed in the garden has been treated by the vendors but it originates from an electricity substation next door which doesn't appear to have been treated.
any thoughts??

I would be concerned about the electricity substation as well as the knotweed so I would not take the risk.

Mossfarr

thanks davesnave,
as most of the neighbouring houses are still owned by the Housing Authority I assume they would also have been treated. The immediate neighbour is an occupied house which is in pretty shabby condition with overgrown gardens so probably not much help from there!
I have never actually seen JN so don't know what to look for. The substation is densely covered by what looks like Ivy which hangs over the neighbouring gardens - I'm assuming that must be it.
I am more concerned about future resale value of the property - albeit I am thinking long term (10-15 yrs min).

Davesnave

JK is a self-supporting plant with hollow stems to about 2m. It's the roots that do damage, but not quite as scary as most red tops suggest.

It is controllable and eradication is possible, but an understanding of the life cycle, consistency and persistence are required. There is no need to dig, which I'd imagine would cause some problems by a sub station!

Pictures and basic info here, but these people are selling a service and this is no recommendation: http://www.ecocontrol.co.uk/gallery.asp

Bear in mind it will be turning yellow about now.

Davesnave

ognum wrote: »

I would be concerned about the electricity substation as well as the knotweed so I would not take the risk.

How would that adversely affect a BTL ?

wwl

ognum wrote: »

I would be concerned about the electricity substation

Why?
Possible low-level audible hum and aesthetics of the building are the only things that could be of any real concern.

Mossfarr

The presence of the electricity substation doesn't really bother me however there may be an access issue as the gateway to the substation opens onto the front drive of this property - very unusual as none of the others in the area do this.
That was another issue I was looking into before I consider buying as I would want to fence of that side of the driveway to hide the railings(which are very substantial but not nice to look at).
It doesn't sound like a good prospect really does it? LOL

ognum

wwl wrote: »

Why?
Possible low-level audible hum and aesthetics of the building are the only things that could be of any real concern.

My reading suggests the jury is still out as to whether living close to a sub station can cause health issues so I would avoid it, I would also avoid buying a property close to pylons and overhead wires.

It's my preference, it also may be other people's when you come to sell.

Marktheshark

I would back off and await the auction if you have cash.
This one is going to go for a birds song at auction once any "interested" buyers drop out.

Mossfarr

Hi marktheshark,

yes I was thinking along those lines - I just need to decide if I need all the hassle of not being able to sell in the future.
Its a shame, its a good solid house which has been fully refurbished so good to go as a rental.