Amidst the flurry of paperwork and packing when selling your house, weeds may be the last thing on your mind. But we recommend that you start considering them, because if the slightest trace of Japanese Knotweed is found on your property – or even on your street – it could swiftly pull the plug on your plans.
If you are aware of Japanese Knotweed on or near your property, if you do not take the appropriate action, it could result in your buyer pulling out of the sale or leading to your property diminishing in value.
How could Japanese Knotweed affect my house sale?
As if it wasn’t hard enough selling property in the current market, if a hint of Japanese Knotweed is found on your property it could cause a buyer to pull out immediately. Banks are also refusing mortgages if Japanese Knotweed is found.
Knotweed has been making headlines over the past few years, with a number of newspapers reporting on property plans scuppered. One of the worst cases was reported two years ago in The Daily Mail, when a couple had their £300,000 new build property’s value drop by more than half, after knotweed was discovered to have spread from nearby land and invaded the property through the walls and flooring.
How can I reduce the effect of Knotweed?
If you are considering selling your house house, we recommend getting a thorough survey of the property early on in proceedings, to avoid any nasty surprises later on. At TP Knotweed, we offer a free initial site check to identify Japanese Knotweed, mortgage surveys and comprehensive plans for Japanese Knotweed eradication.
The main thing to ensure is that you are clear with whether your house is affected by Knotweed or not. Reporting Japanese Knotweed can save you from costly legal battles further down the line, if you were aware of your Japanese Knotweed infestation, but have not declared this on the Seller’s Property Information Form (TA6).
You as the seller must complete this form and answer the question relating to whether the the property is affected by Japanese Knotweed.
If this is the case and you answer yes, in many cases a Japanese Knotweed management plan is needed to be in place to allow the buyer to obtain a mortgage.
Japanese Knotweed management plan
If a Japanese Knotweed treatment programme is not already in place, it can cause complications especially if it leads to the chain being held up. However, we can be on site within 48 hours to conduct a survey to determine the extent of your Knotweed problem and provide a quote for a treatment plan to satisfy lending requirements.
It’s important that you are honest on the TA6 form, as selecting ‘No’, knowing you have Japanese Knotweed, or do not disclose this, you could be in danger of future legal action by misinforming the buyer
A large amount of mortgage lenders will not lend money on a property affected by Knotweed or with Knotweed surround the property without a specific treatment plan in place.