Japanese knot weed

samps1973

Hi,

I thought I'd come here as I've had great help before on other matters.

7 months ago i put an offer on a property which was accepted.

Theres been quite a few hold ups and I'm now at the tail end of the legal process.

Its a new build even though it was built back in 2015.

The latest replies to enquiries have come back and it says that the property had a small amount of Japanes knotweed on small amount of the land before the property was built. 

They got a specialist Japanese knotweed company in who excavated the problem part of the site before they built.There were 3 small plants underneath where is now the drive to the main building but is within 7 meters of the building. It is monitored every 2 yrs and in 2016 was given a 12 year guarantee so it runs out in 2029.

I'm wondering if anyone here has had a similar problem?

The obvious question is whether to buy it?

I dont understand why it has taken this long to come to light, are they aloud to do this?

My solicitor has let Santander know and they are deciding whether or not to give a mortgage. The developer has done everything correctly so hopefully it will be ok.

My biggest concern is trying to sell in the future and whether or not the developer is responsible for the problem beyond the 12 year guarantee.

Sorry about the long post but theres a lot going through my mind.

I've done a bit of googling and found out that in March the ate getting rid of the 7m rule and aren't being so strict with the weed on the main building of the property only extensions or outhouse etc.

Thanks

Doozergirl

RICS have changed stance and have decided that it isn't really as much of a problem as once thought.   Your house has significant foundations, the problem was never that close and let's face it, the idea of a plant that doesn't even exist at the moment breaking through at least a metre of foundations and compromising the house isn't realistic, even if the plant was there.  

If the mortgage company feel it's a risk worth ignoring, I don't see why you should take a different view.  See what they say.  

As for the 12 year guarantee, that sounds like plenty.  If it's that invasive, the plant is not going to wait dormant for over 12 years until the guarantee is over.  The purpose of that guarantee is to provide peace of mind for longer than the perceived threat.  

It's almost certainly long gone.  Dug up carefully and removed.  

Slithery

Not an issue.
Definately not something worth pulling out over.

FreeBear

Doozergirl said: As for the 12 year guarantee, that sounds like plenty.  If it's that invasive, the plant is not going to wait dormant for over 12 years until the guarantee is over.  The purpose of that guarantee is to provide peace of mind for longer than the perceived threat.

It is worth checking that the guarantee is transferable to future owners, and at what cost.

Is this guarantee insurance backed, or does it rely on the company that did the work to still be in business 12 years down the line ?

Doozergirl

Here's the latest RICS guidance on JKW, literally just published after a consultation last year and having been talked about for some time. 

https://www.rics.org/globalassets/rics-website/media/upholding-professional-standards/sector-standards/real-estate/japanese-knotweed-and-residential-property-1st-edition-feb-2022.pdf

Some light bedtime reading for you.  

samps1973

Wow, what a great response. Thank you all.

@FreeBear I'm not sure if its transferable, I'll add that to the questions I need to ask, thanks.

It is insurance backed and if the company goes bust another company will be paid for.

samps1973

@Doozergirl

Thank you for the advice, I did kind of think to myself if a massive lender like Santander are happy then I should be I guess.

I'll have a read of that article too.

I have a few questions that need answering including the one freebear just asked. Who is the best person to ask. My solicitor, the lender or the developer?

I'll write them in next post as they are on my phone.

Thanks

Doozergirl

Your solicitor can ask the developer.  

All the answers are then on the record.  

samps1973

Here are the questions I was going to send to my solicitor, I'm sure there are some I've missed.

TBH I'm a bit worried what to do. It could end up I'll be stuck in a property I cant sell, that's why I'm here.

Thanks all 👍

Japanes knotweed

1. Does it effect the current valuation.

2.Does it effect future valuations.

3. Cost for future control and testing. Who pays.

4. Will this effect any insurances taken out on the home. wills

5. Will it affect the saleability of the property

6.where to get advice on this

7. Will I need to let the EA/ Buyer know about this problem when I come to sell or is that for solicitors to sort out.

8. Is the guarantee transferable to the new owners.

It should be noted that Japanes Knotweed can take many years to eradicate via chemical application. Chemically induced eradication does not mean removal of the plants underground rhizome system. This will remain often dormant but viable state and could re-grow if disturbed.

Guarantee period ending-30/01/29

Last Guaranteed site monitoring may-Nov 28

What will happen to the monitoring/control after this point also who will be liable for the cost.

Will the current guarantee period be extended. If not  why not.

Sorry, these are rough notes I put on my phone every time I think of a question 🙂

samps1973

@Doozergirl

I think some of them questions are answered in the pdf you linked. Just need to have a good read of it now.

I'll post here the decision from Santander for others to read.


Thank you 🙂

aoleks

I would want a very significant discount on the property, even though I wouldn't buy it myself. I know, there is a chance everything will be just fine, like others have said, but this plant is just not worth the stress for me.

If I was to buy the house, though, I'd want the price lowered to account for potential future problems and less buyers due to the rightful reputation of this plant.