Is Japanese knotweed a reason to pull out?

GDB2222

user1977 said:

GDB2222 said:

The RICS are definitely saying that the problem is exaggerated. But they also say:

It is acknowledged that currently the presence of Japanese knotweed may be a significant impediment to the sale and purchase of a property, and it can affect both value and saleability.

If the public perception of JKW means that affected properties have a lower value, the valuer cannot ignore that, even if he and the RICS think the public may have got it wrong. 

As thing’s currently stand, it may well not be necessary to pay full price for an affected property.

Does "presence" include "six years ago, before the JK was cleared up and the property redeveloped"?

I know the thread is headed Is Japanese knotweed a reason to pull out? But, I thought we had moved on a bit from there, and I was just making a more general point. 

Eldi_Dos

The eradication of JK in itself can cause long term problems for a development.

There is a development I know, as a relative lives there, it is bounded on one side by a disused railway line which is now generally overgrown and a bit of a nature reserve.

The factors for the estate keep the place in good order and are on the ball when it comes to maintenance and general upkeep.On the bank of disused railway they noticed something that was a cause for concern and got a company in who carried out a spraying programme with repeated spraying over several years.There has been no reappearance of JK, but the continuous spraying and killing off of vegetation has led to a noticeable erosion of the bank.Only in area that had been sprayed at rear of properties.

It would be interesting to know who would be responsible for costs if and when bank needs stabilised.

YoungBlueEyes

Is that what these companies do is it? Just spray everything in the area..?

Eldi_Dos

I think what they are meant to do is inject the JK with a wand type injector.
But were the JK was before is then exposed.

diystarter7

GDB2222 said:

The RICS are definitely saying that the problem is exaggerated. But they also say:

It is acknowledged that currently the presence of Japanese knotweed may be a significant impediment to the sale and purchase of a property, and it can affect both value and saleability.

If the public perception of JKW means that affected properties have a lower value, the valuer cannot ignore that, even if he and the RICS think the public may have got it wrong. 

As thing’s currently stand, it may well not be necessary to pay full price for an affected property.

Hi

Best post on the thread.

In my judgement, if anything has a negative impact on any property/ land, any reasonable person will accept that it may affect the saleability.

Another example and just for heads up and this  can be compared with this JK. Subsidence that has been repaired, and underpinned. This as most people would accept means the problem has been sorted on the whole. However, a lot of people will not buy them, therefore resale value/saleability is affected.

Therefore, anyone citing it does not affect the value and the saleability, in my judgment lacks the insight of property market trends.

Linnk is a good read, IMHO for any serious buyer/s

https://www.thetimes.co.uk/money-mentor/article/japanese-knotweed-uk-buying-house-mould/

tooldle

I say this everytime. I sold a property which was underpinned for full asking price. No troubles whatsoever. I bought it for a few thousand under asking as it was then in need of ‘modernisation’. Both sales attracted several offers. Oddly I now have a property with a previous knotweed infestation, treated by the previous owner. No insurance backed guarantee and no worries about it whatsoever. 

I don’t lack insight. I am able to use critical judgement.

aoleks

tooldle said:

I say this everytime. I sold a property which was underpinned for full asking price. No troubles whatsoever. I bought it for a few thousand under asking as it was then in need of ‘modernisation’. Both sales attracted several offers. Oddly I now have a property with a previous knotweed infestation, treated by the previous owner. No insurance backed guarantee and no worries about it whatsoever. 

I don’t lack insight. I am able to use critical judgement.

good for you. most of those placing offers on your place, if and when you decide to sell, will use it too. you just won't see those who won't even consider your property because of JK, they simply don't bother.

tooldle

aoleks said:

tooldle said:

I say this everytime. I sold a property which was underpinned for full asking price. No troubles whatsoever. I bought it for a few thousand under asking as it was then in need of ‘modernisation’. Both sales attracted several offers. Oddly I now have a property with a previous knotweed infestation, treated by the previous owner. No insurance backed guarantee and no worries about it whatsoever. 

I don’t lack insight. I am able to use critical judgement.

good for you. most of those placing offers on your place, if and when you decide to sell, will use it too. you just won't see those who won't even consider your property because of JK, they simply don't bother.

A knotweed survey will be the best course of action. We’ve not seen any growth in the time we’ve been here. Perhaps I am a little more ‘aware’ than most having colleagues involved in knotweed research, and of course being aware of RICS document. 

Doozergirl

diystarter7 said:

GDB2222 said:

The RICS are definitely saying that the problem is exaggerated. But they also say:

It is acknowledged that currently the presence of Japanese knotweed may be a significant impediment to the sale and purchase of a property, and it can affect both value and saleability.

If the public perception of JKW means that affected properties have a lower value, the valuer cannot ignore that, even if he and the RICS think the public may have got it wrong. 

As thing’s currently stand, it may well not be necessary to pay full price for an affected property.

Hi

Best post on the thread.

In my judgement, if anything has a negative impact on any property/ land, any reasonable person will accept that it may affect the saleability.

Another example and just for heads up and this  can be compared with this JK. Subsidence that has been repaired, and underpinned. This as most people would accept means the problem has been sorted on the whole. However, a lot of people will not buy them, therefore resale value/saleability is affected.

Therefore, anyone citing it does not affect the value and the saleability, in my judgment lacks the insight of property market trends.

Linnk is a good read, IMHO for any serious buyer/s

https://www.thetimes.co.uk/money-mentor/article/japanese-knotweed-uk-buying-house-mould/

"It’s capable of doing immense damage by weaving its way into walls, roofs, and foundations, before expanding. At this point, it can cause cracks and force its way into buildings."

Utter, utter, rubbish shown to be wrong by the RICS document which even talks about the media perpetuating myths.   This is the very worst example of that.  How on God's earth does a plant get into roofs??!  It's like the Day of the Triffids according to this article.  

No one has said that people don't have differing degrees of knowledge and therefore attitude, just like most of things that come up in survey.  

Contrary to what you say, the article is  NOT a good read for serious buyers, it's a shoddily written article by someone that's never bought a house, gets paid to produce content regardless of quality, done no research and couldn't care less because they're getting paid for the clicks provided by their scaremongering by Checkatrade who have clearly sponsored it.  

Eldi_Dos

tooldle said:

aoleks said:

tooldle said:

I say this everytime. I sold a property which was underpinned for full asking price. No troubles whatsoever. I bought it for a few thousand under asking as it was then in need of ‘modernisation’. Both sales attracted several offers. Oddly I now have a property with a previous knotweed infestation, treated by the previous owner. No insurance backed guarantee and no worries about it whatsoever. 

I don’t lack insight. I am able to use critical judgement.

good for you. most of those placing offers on your place, if and when you decide to sell, will use it too. you just won't see those who won't even consider your property because of JK, they simply don't bother.

A knotweed survey will be the best course of action. We’ve not seen any growth in the time we’ve been here. Perhaps I am a little more ‘aware’ than most having colleagues involved in knotweed research, and of course being aware of RICS document. 

Never seen or commissioned one of these surveys but would one carried out in January give a different result than one done in May or are they a bit more involved to take that into account.