Trying to sell a house with Knotweed?
Trying to sell a house with Knotweed? First things first, try not to panic, there are so many scare stories in the press and on the internet that will tell you that your house has no value and you won’t be able to sell. Your estate agent might even have told you that you can sell, but only for cash at a knocked down price. Let’s be clear – these claims are not true! By taking the right steps and getting a qualified Knotweed Specialist involved you can sell your home, and you can sell it for a fair price.
First off let’s make sure it is Knotweed and not one for the many other plants that it can be mistaken for. You can either take our quick quiz https://www.knotweedsupport.co.uk/is-it-knotweed/ or send over some photo’s for identification CALL NOW 07912 625369
So, it is Knotweed, what now?
If you are still reading, then we will assume that you do have Knotweed on or near to your property. You may be considering removing the plant before putting your house on the market; you can’t do this for several reasons! Knotweed is not easily removed like other weeds, so digging it up or setting about it with your general store-bought generic garden weed killer will not solve the problem. Add to this the fact that Japanese Knotweed is a controlled waste and it must be disposed of by a licensed waste carrier to a disposal facility that has the correct environmental permit to accept invasive plants, so you can’t just add it to your other garden waste or bin. Knotweed is also easily spread so adding it to your compost poses a very real threat of you spreading it to other areas of the garden. Finally, it is an offence to fail to declare the presence of Knotweed and you will be asked about the presence of Knotweed specifically in the TA6 form when you complete on the sale of your home.
How do I sell?
So, what do you need to do and how can you sell your house when it feels like the odds are stacked against you? Lenders and increasingly buyers are looking for reassurance that your have made a commitment to treat the Knotweed on your property. How do you demonstrate this? With a comprehensive Knotweed Management Plan. The plan will document where the Knotweed currently is, it will include a suggestion of the likely RICS risk level and it will clearly outline the plan to manage the Knotweed including the number of visits and the proposed method of treatment. A good comprehensive Knotweed Management plan will give you 10-15 years of cover including treatment, monitoring and the guarantee period.
The plans are lengthy because Knotweed will not disappear overnight, this is a tenacious plant that needs qualified and experienced management to ensure it is dealt with and controlled appropriately. Does this mean you are potentially stuck in your house for another 10 years? Absolutely not! By putting a plan in place, you have demonstrated the commitment to treat, and in doing so you have put the value back into your property.
Can I sell my house now?
Once a full knotweed Management plan is in place you have done all you can, in Knotweed terms to be able to sell your house. There will always be potential buyers who are put off by the presence of Knotweed on site, and depending on whereabouts on your property the Knotweed is located, some potential buyers will decide that its presence is an inconvenience to them and not buy. However, with a Knotweed Support Management Plan in place, our clients are encouraged to share our contact details with serious potential buyers so that they can call us and ask for more information. We are happy to answer any questions they might have and offer reassurance if they need it.
Is my house mortgageable?
We know it can be a worry when you have Knotweed on or near your property but with the right plan in place your buyer will still be able to obtain a mortgage. Whilst they may not have the whole market choice for a lender, once a Full Knotweed Management Plan is in place, the list of available mortgage providers will open back up. Putting the plan in place provides the necessary reassurance to the lender that the Knotweed will be controlled appropriately. Our advice would always be for you, as the vendor to put the plan in place, and for the buyer to advise their broker from the outset that there is Knotweed found onsite, which is supported by that a comprehensive Knotweed Management plan.