selling a flat with japanese knotweed

wksd

I could really do with some advice.

We bought a property 2 years ago, a new build flat, because it was a new build there was no TA6 and we were not told there was knotweed. We discovered it a year later through talking to neighbours.
The JKW is in the block of flats next door, the blocks are between 2-6 flats each (converted cottages) there has always been a treatment plan in place - this meant the blocks with the knotweed directly on the property did not have issues getting a mortgage.

Now, we have always been transparent about the knotweed and believe there isn't much risk to the owner (apart from resale because of how much people panic). It's a leasehold and all the blocks are owned by the same freeholder / management company.

The JKW is within a few meters of our flat, however we have no outdoor space so it's not visible in any way, it's just the blocks are close together and share a 6 space car park.

Our buyer has just pulled out because their mortgage got declined. It got declined as they said the survey showed the JKW had spread to our property. We are unsure how this could be seen as there is no visible knotweed due to the weather, additionally the knotweed is in someone's garden (when it is visible) which is fenced off. The mortgage company weren't told by the broker about the treatment plan, so that has now been sent to the company to reassure. However it spooked our buyers who were previously fine with the JKW.

So far I have offered a new survey and to negotiate on price to keep them as we were so close to exchanging and have found our dream property.

Does anyone have any advice on what we can do? It's a 2 bed flat in the south east and already 20-30k cheaper than similar properties. The flat next door with the japanese knotweed directly on it has just sold with no issues for a 35k profit, and 60k more than what ours retails for (it is also only slightly bigger in terms of common areas, our bedrooms are bigger).

I feel like I'm constantly anxious and really need some help.

princeofpounds

That was a bit complex... can you confirm this summary?


So basically, you don't have knotweed. The immediate neighbor (a block of flats) does, where it has been under a treatment plan but, apparently, has not been removed.


Your buyer got worried about it because their survey said it was on the property. Their lender was further worried about it because they weren't told about the treatment plan. You are trying to correct the misinformation about the treatment plan and the survey, and negotiating on price to further make the transaction happen as you are keen to sell.


Is that right?

wksd

princeofpounds wrote: »

That was a bit complex... can you confirm this summary?


So basically, you don't have knotweed. The immediate neighbor (a block of flats) does, where it has been under a treatment plan but, apparently, has not been removed.


Your buyer got worried about it because their survey said it was on the property. Their lender was further worried about it because they weren't told about the treatment plan. You are trying to correct the misinformation about the treatment plan and the survey, and negotiating on price to further make the transaction happen as you are keen to sell.


Is that right?

Sorry didn't mean it to be so complex.
I guess you're right, let me summarise:
1) Think of our block as half of a semi detached house, and the other side of the house another block of flats. The other block has JKW.
2) Buyer knew of this when they were buying and had no issues as treatment in place.
3) mortgage was declined as survey showed knotweed had spread to our property (like the garden of one house spreading to the other)
4) I don't think this is possible to even see but let's ignore that, survey said what it said.
5) mortgage broker then has sent the treatment plan to get mortgage approved. They have not yet heard back on that.
6) Buyer pulled out because the mortgage getting declined signalled that this was a bigger issue than the had first thought.

I am now trying to rescue it

30ismorethan171991haha

Knotweed is a !!!!! to remove and containing it is expensive. Not to put a dampner on your plans but knotweed can make a property unsellable.
There are often specialised dealers out there handling unsellable properties.
But then your neighbour sold his flat, so I agree it's odd. He could have sold it by a specialised dealer. Most "normal" estate agents don't do knotweed

shortcrust

30ismorethan171991haha wrote: »

Knotweed is a !!!!! to remove and containing it is expensive. Not to put a dampner on your plans but knotweed can make a property unsellable.
There are often specialised dealers out there handling unsellable properties.
But then your neighbour sold his flat, so I agree it's odd. He could have sold it by a specialised dealer. Most "normal" estate agents don't do knotweed

I think that’s a rather behind the times take on knotweed and its implications. It might put some people off, but a properly with an insurance backed treatment plan is not going to be unsellable and doesn’t need ‘specialist dealers’.

My neighbours have eradicated their knotweed problem, admittedly over several years, with nothing more than stuff you can buy from Homebase.

Davesnave

30ismorethan171991haha wrote: »

Knotweed is a !!!!! to remove and containing it is expensive. Not to put a dampner on your plans but knotweed can make a property unsellable.
. Most "normal" estate agents don't do knotweed

Which century do you imagine you're in? standard glyphosate will contain and eradicate it over time, if the operator understands the plant's life cycle. It's not hard; no quadratic equations necessary.

Very often, lenders want an insurance backed treatment plan, and that's their prerogative, but it's overkill in many situations.

30ismorethan171991haha

The same century as you do.
You see, in this century, i used to work for a firm that dealt in unsellable properties.
Yes, knotweed can be treated, but it's not as plain sailing as you make it out to be.

Davesnave

30ismorethan171991haha wrote: »

You see, in this century, i used to work for a firm that dealt in unsellable properties.

That must've been profitable, selling houses that won't sell.


The lender wants as much certainty as possible, so they demand a treatment plan. If the JK is on someone else's property, it can be that much harder to be sure of control. However, assuming an acceptable plan is in place, this might well be rescued, so no need for scare posting.


Lenders will be well aware of research into JK, including quite recent work by Exeter University, which has put the problems JK causes into a proper, non sensationalist context.


As someone qualified to apply professional chemical treatments, I'm aware that some weeds are persistent, but that doesn't mean they cannot be controlled and, eventually, eliminated. When JK is under control, and well before it's eliminated, it poses no great threat to buildings. There are other things, like trees, springs and clay sub soils which pose much more of a risk.

Marvel1

30ismorethan171991haha wrote: »

The same century as you do.
You see, in this century, i used to work for a firm that dealt in unsellable properties.
Yes, knotweed can be treated, but it's not as plain sailing as you make it out to be.

I had some last year, used this https://www.amazon.co.uk/Roundup-Tree-Stump-Weedkiller-250ml/dp/B01BY4FFPK/ref=sr_1_2?crid=2TZGAEIZ6U56S&keywords=knotweed&qid=1575716027&sprefix=knotweed%2Caps%2C787&sr=8-2 and this year nothing.

30ismorethan171991haha

and it's known to be a problem.
take your waffle elsewhere.

Davesnave

30ismorethan171991haha wrote: »

and it's known to be a problem.
take your waffle elsewhere.

If you use the quote button, people will know to which post you're referring.

Don't forget, this is an open forum, so it's not appropriate to tell others where/when they can post. Anyone registered to the site may post here.

It's normal for a range of views to be posted, including those some contributors may not be in agreement with. Readers use their own judgement to decide whose posts they give most credence to.