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Our buyers are pulling out HELP!

4 replies

inneedofadvice678 · 12/03/2019 13:11

Can't believe I'm having to write this - would really appreciate help/advice.

We are sold to first time buyers and in a chain buying a house.

Everything seemed to be going fine but then the management pack came through highlighting Japanese knotweed. We were unaware when moving in as it is a new build. However, we found out as neighbours (also small block of flats) know but the knotweed was there before flats were built and there's a long term treatment in place under condition of the council. So everyone was able to get mortgages fine.
The knotweed isn't on my flat as we have no garden and it affects the neighbouring building and joint car park.

Anyway, the words Japanese knotweed have sent our buyers into a tail spin and they're considering pulling out. We've never had an issue with the knotweed, there's insurance in place, there's the new build warranty still in place, and of course the treatment is being carried out.

If we lost them we'd lose our house too probably.
Any advice please help :(

OP posts:
Asdf12345 · 12/03/2019 16:40

Your could do nothing and hope they stay, push for them to exchange contracts soon, or offer to drop the price if they exchange within a short time frame.

Or go back on the market for a new buyer ASAP.

LittlePickleHead · 12/03/2019 16:58

I feel for you, JKW seems to send people crazy, but it's totally unwarranted IMO.

We've just sold our place which did have a JKW problem (discovered after going on the market), we had to pay for treatment but in th eend it didn't in any way affect the sale price or mortgage offer for our buyer.

Best advice I can give is for the estate agent to ask them to speak directly to their mortgage company/broker and also to the PCA to advise them and put their mind at rest.

They will probably be reeling from Google, but a bit of reflection over the fact that the flats have sold and that it doesn't directly affect your property should hopefully reassure them.

Good luck, I'm not sure our situation is particularly helpful to you, but if you did want any more advice feel free to PM as I'm now an inadvertent JKW specialist...

SoupDragon · 12/03/2019 17:00

Do they know the full situation (treatment in place etc) or have they only just seen it on a survey?

inneedofadvice678 · 13/03/2019 10:16

It didn't come up in a survey as not on our property! It affects communal areas. They officially pulled out this morning.

Just don't want to lose our house we're buying!

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