Can you sell a house with Japanese knotweed UK?
Can you sell a property with Japanese Knotweed? You can sell a property with Japanese Knotweed; however, you may need to take some extra measures to ensure that potential buyers feel comfortable purchasing the house and confident that they will be able to secure a mortgage from their bank.
Can you completely remove Japanese knotweed?
Despite claims by some companies, Japanese knotweed cannot be killed or eradicated by herbicide application alone. It can be controlled via herbicide treatment or fully removed from a property by excavation. Often, the most cost-effective method of controlling Japanese knotweed is a Herbicide Treatment Programme (HTP).
Why is Japanese knotweed so difficult to remove?
To make things worse, Japanese knotweed is incredibly difficult to remove. Due to its rampant growth, its rhizomes can sprout up through asphalt and cement cracks, out of rock walls, through floorboards, and can even cause severe structural problems for your home.
Can I buy a house with Japanese knotweed?
“In nearly all cases where a property has a knotweed infestation, a mortgage will only be available if you put in place a professional Knotweed Management Plan provided by an approved contractor – i.e. a contractor who is a member of the Property Care Association and who can provide a 10-year insurance-backed guarantee …
Does a mortgage valuation check for Japanese knotweed?
If you employ a surveyor to give your prospective property purchase the once over, then yes, they should spot any signs of Japanese knotweed and inform you of its presence. It’s worth bearing in mind, however, that your lender will not flag the issue when conducting a mortgage valuation.
Will Japanese knotweed devalue my house?
Japanese knotweed can devalue a property between 5-15%. There have been cases where homes have been almost completely devalued as a result of severe infestations, however, these are rare occurrences.
Does Japanese knotweed affect house insurance?
Having Japanese knotweed shouldn’t affect your home insurance premium. Most standard house insurance policies will not cover the removal of Japanese knotweed, or repairs to anything damaged by it. As such, your discovery of the plant, whether or not it has originated on your land, should not affect your premiums.
Will a homebuyers survey pick up Japanese knotweed?
If knotweed is flagged up on a survey, the buyers’ mortgage lender will typically ask for a specialist report to be commissioned at the expense of the seller. The report categorises the risk to the property on the RICS scale and detail how the knotweed will be treated.
Should I buy a house with a history of Japanese knotweed?
The existence of Japanese Knotweed does not necessarily mean that you shouldn’t buy the property. If there is an approved knotweed management and treatment plan in place, then there should not be any problem in getting a mortgage.
Will Lenders lend with knotweed?
This means that if a property is affected by Japanese knotweed, a lender will require the knotweed to be treated by an accredited knotweed company before lending can be approved.
Do I have to remove Japanese knotweed from my property?
As a homeowner, it is your legal responsibility to prevent any Japanese knotweed on your land from spreading onto another person’s property or into the wild. You are not legally required to remove Japanese knotweed from your land, but failing to prevent it from spreading onto neighbouring land is an offence.
How much does Japanese knotweed devalue a house?
Japanese knotweed can devalue a house between 5-15% [4], however, in some more extreme cases, the plant has been known to almost completely devalue properties. The amount that a home is devalued by will depend on the severity of the infestation and its proximity to any buildings.
What is Japanese knotweed?
Japanese knotweed is an invasive plant that originates from Japan, China and Korea. After being discovered by European horticulturists in the 18th-century [2], the plant was imported into mainland Europe.
What happens if seller lies about Japanese knotweed on TA6 form?
If the seller lies about Japanese knotweed affecting the property on the TA6 form then you may be able to claim for compensation on the grounds that the property has been misrepresented to you. The seller didn’t tell me about the Japanese knotweed – can I claim compensation?