Buyers survey has found JK in our garden :(

[Whereareyouscooter]

Absolutely gutted, our buyers survey has found Japanese Knotweed in our gardenWe didn't have a clue what it was, in fact it's right outside our side window and we just thought it was a plant! We've had an expert out who has identified it next door too, it's along the boarder of the houses and therefore impossible to determine which side it originated from. Our buyers lender wants a report doing and it eradicated. Due to where it is, the expert has advised using a herbicide treatment at the appropriate times of the year for the next three years and they provide a 10 year warranty (they're part of the PCA). Apparently the buyers lender will be satisfied with this and so far, the buyer still wanted to go ahead. The report had been sent to their solicitor and now the buyer wants to get their solicitors advice on whether to go ahead our not. This is completely understandable (I'd be put off!) but where does it leave us? The house was up for sale for £244,950 & we accepted the buyers offer of £237,000 within 24 hours of being on the market - we had lots of other interest too but stopped viewings after accepting the offer. We offered a £5000 reduction to the buyers as a gesture of goodwill after the knotweed discovery so we are now selling for £232,000. If the buyers do pull out & the house had to go back on the market, does anyone know how much the Japanese knotweed will effect the price of the house roughly? I've read every scare story on the internet about houses becoming worthless due to Japanese knotweed but I've also read that lenders are becoming much more accepting now if management plans are in place. Does anyone have any experience of this?

[PippaFawcett]

No experience but from what I have read, I would say if you have a buyer that wants to go ahead with the sale, cut your price to whatever they will accept and move.

[Bitofeverything]

I would be concerned, but don't panic. Jk is a pain, but not a disaster. My sister had it on her land, and they have been managing the eradication - and a couple of years in, it's basically solved (though they will keep going.) So be prepared to take a hit, but don't accept a huge cut.

[ICanTuckMyBoobsInMyPockets]

I thought you meant Jeremy Kyle.

[FraggleMountain]

Pockets !!!

Sorry OP, must be stressful. But at least not Jeremy Kyle

[LIZS]

Have you checked how much treatment is ? You could offer to get that started before exchange.

[DurhamDurham]

Pocket the house price would be tumbling if it were that JK
If you are able I would seek it to the buyers you have even if you have to drop the rice again. At least it won't be your problem, and as its been highlighted they would be going into sale having made an informed decision to buy the house knowing it has JK.

[newhairdontcare]

My sister is in the process of buying a house with JK. It was flagged up in the survey. After an evening of panicking they spoke to the experts, got someone in to price up the treatment of it and have negotiated a reduction in the price to cover the cost of removing it. My sis and her DH love the house and haven't let it scare them off.

Don't panic, it can be sorted.

[littlemonkey5]

check out the countryfile website - I am sure they covered this plant last week - maybe some info on it there....?

[Whereareyouscooter]

Thanks for the info and good to hear that people have been prepared to buy a house with Japanese knotweed (thanks new hair!) We're paying for the treatment and can drop our price to a maximum of £220,000 (so £25,000 less than the valuation) but can't go lower than that or we can't buy the house we want. Really hope the buyers will go ahead!

[catsofa]

We've got it in a garden about 9 square metres. We're having it professionally treated (including next doors garden) over 2 years for about £1,400. We can't use the garden the first year so we don't disturb it, but it's not a huge big deal really.

[ChristinaParsons]

It depends on the lender. Some will go ahead if there is a plan in place others won't. It will be a condition of their mortgage that the treatment is carried out

[peggyundercrackers]

I would stop spewking about dropping the price of your house, all I would be dropping the price by is the price of the treatment. If you keep speaking about dropping the price others will pick up on it and offer less as well when there is absolutely no need for it. If the lender is happy with the treatment and happy to lend then the house is worth the value you were asking.