Japanese Knotweed

GDB2222

Pinkbunny2000 said:

NameUnavailable said:

I think until the knotweed has been eradicated and there's a guarantee in place it will be difficult for you to get a mortgage in the current environment. Wait to see what your lender says. If you can proceed I would definitely seek quotes for the work and ask for a reduction in price to assist.

You can never eradicate it

it will come back decades in the future

Is that the original infestation, or a new one? Obviously, if JKW is rife in the area, you’ll have an ongoing problem.

daveyjp

Pinkbunny2000 said:

NameUnavailable said:

I think until the knotweed has been eradicated and there's a guarantee in place it will be difficult for you to get a mortgage in the current environment. Wait to see what your lender says. If you can proceed I would definitely seek quotes for the work and ask for a reduction in price to assist.

You can never eradicate it

it will come back decades in the future

Never say never.  It depends entirely on the nature of the outbreak.  I have had it removed and it has never come back.

Having looked at the details from the link there is a lot of unmanaged vegetation to the rear of the house and commercial properties running parallel.  Classic 'knotweed' country and a pain to ever get on top of.  You can manage it easily enough on your own patch, but it will come back if the whole area isn't treated.  Difficult in dense unmanaged vegetation.  You are wise to walk away, but the agent won't flag it, they act for sellers not buyers.

Jba1988

SouthLondonUser said:

OP, our of curiosity, did the bank elaborate on why they wouldn't lend?

Do they not lend against properties with knotweed at all? If so, that would be a new thing - maybe a post-covid change?

Or is it because the treatment is for 5 years but they want 10?

Or maybe they lend against properties which treated the infestation but not against those with an active infestation?

I'd be interested in any colour you may have. Thanks!

The solicitor reckoned that if the treatment had been completed and an eradication certificate was present then they would have been satisfied, but as the treatment had only just begun they weren't willing to lend the money.

I have to say it was a relief that the decision was take out of my hands! 

hazyjo

SouthLondonUser said:

@elsien , no agent will ever put it in the ad. The seller must declare it in the property information pack; if they don't, and the buyer can prove the seller knew about the Japanese knotweed, the buyer can sue the seller. The problem is, by the time the seller provides the property information pack, the buyer will have already engaged a solicitor, so, if the buyer pulls out then, he/she will most likely have to incur some costs. It may be a good idea to ask about any history of Japanese knotweed BEFORE instructing solicitors.

An estate agent has to declare it by law if they are aware of JK. (Not just if they're asked.)

Sistergold

Jba1988 said:

daveyjp said:

Any links? 

https://www.rightmove.co.uk/property-for-sale/property-77196982.html

It was lovely inside, what a shame. 

Marvel1

Pinkbunny2000 said:

NameUnavailable said:

I think until the knotweed has been eradicated and there's a guarantee in place it will be difficult for you to get a mortgage in the current environment. Wait to see what your lender says. If you can proceed I would definitely seek quotes for the work and ask for a reduction in price to assist.

You can never eradicate it

it will come back decades in the future

I'd be dead then 

Bonniepurple

“You have a balcony which overlooks parts of Kidderminster which is pleasant in the summer months.” Not sure how to take that one - are other parts of Kiddi nice in the winter?!

SouthLondonUser

hazyjo said:

An estate agent has to declare it by law if they are aware of JK. (Not just if they're asked.)

Do you mean in England? If so, not quite. In England, AFAIK, the seller must provide information on Japanese knotweed, disputes with neighbours etc in the property information form, which the sellers send to their solicitor, who sends it to the buyers' solicitor, who sends it to the buyers.

It's the seller who has to disclose it, not the estate agent.

Basically anything the agent says or writes is completely irrelevant, and cannot and should not be relied on in any way.

All that matters, and that can be relied on, is formal communication between buyers and sellers mediated by the respective solicitors. If the sellers lie in this kind of communication, and the buyers can prove it, the buyers can sue the sellers.

If the seller writes or says all kinds of waffle and lies, the buyer basically has no recourse against that.

Again, no agent is going to put in the ad "history of Japanese knotweed", nor is he/she going to volunteer that information, unsolicited, at the first viewing!

hazyjo

Perhaps we'll have to beg to differ.

Whilst I agree I'd not take much as gospel that the EA tells me, they are now legally required to inform prospective purchasers of JK under Consumer Protection Regulations as it is classed as a material fact.

SouthLondonUser

I'd like to understand more - could I please ask you to elaborate?

Is this your understanding? Have you read about it? A solicitor told you?

When exactly should the agent disclose the Japanese knotweed, and how? In the ad? Have you ever seen an ad with this disclosure? When a buyer makes an offer? At that point what's the difference with the property information form provided by the sellers?