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Buying a house with japanese Knotweed?- Here is what you need to know!
"Indisputably the UK's most aggressive, destructive and invasive plant."
This is why it is so important for you to understand your legal rights. You also need to understand your options prior to buying a property infected by Japanese knotweed.
Japanese knotweed can reduce the value of a property by up to 20%, making it a significant concern for both buyers and sellers. In addition, Japanese knotweed treatment costs typically start from around £3,000, depending on the extent of the infestation and the recommended management approach.
This immediate impact on property value can create difficulties with certain mortgage lenders, many of whom will not approve lending on an affected property unless a formal Japanese knotweed treatment plan is already in place. In some cases, this can delay or even prevent a property transaction from progressing.
More importantly, if Japanese knotweed is discovered after the purchase has been completed, responsibility for treatment and management will fall to the new property owner. This can lead to unexpected costs and potential legal considerations, particularly in relation to neighbouring land. For more information, please refer to the legal side of Japanese knotweed.
A professional Japanese knotweed site survey is essential in these situations, as it will confirm the presence and extent of the plant while also providing a clear quotation for treatment. This information can be used as a strong negotiating tool when discussing the purchase price with the seller.
If you are looking to renegotiate, or require support in securing a mortgage on a property affected by Japanese knotweed, arranging a professional site survey is a critical first step.
It is important to know prior to purchasing that any Japanese knotweed will become your responsibility as the new owner. This is only if you are made aware of the presence of Japanese knotweed prior to purchasing the property. It will ultimately be up to you to organise treatment. If you are interested in purchasing a property with Japanese knotweed, you should be able to negotiate for a discounted price to reflect future costs.
If you purchase a property that the TA6 form has confirmed as having no Japanese knotweed and there is, then you are well within your rights to claim for any costs and/or damages.
If the property that you are looking to purchase already has a treatment plan in place you will need to ensure that the treatment plan has an insurance-backed guarantee. We recommend a 10 year guarantee, with 3 being the absolute minimum. An insurance-backed guarantee will be a must for lenders, as well as allowing you peace of mind. You can be assured that you will not have to deal with the problem if it grows back the following year. If a treatment plan is in place, ensure that the sellers are choosing the right management plan, instead of a cheap fix.
Have you found Japanese Knotweed on your property but... Not sure if you are able to make a claim? Or, know who is legally responsible?
In the event you think that your neighbour has Japanese Knotweed, it could spread to your garden. Here is a step-by-step guide for tips on what to do next.
Firstly, be aware that it will look different depending upon the time of year. Therefore, we have created a season-by-season guide to help you.
What treatment options are available for residential properties?