Can Japanese knotweed prevent you from selling your property?
Among homeowners, the very words “Japanese knotweed” can cause alarm and distress. The reason is that this pesky plant is impossible to get rid of – and if it appears in your garden, it’s likely to be a source of worry. Anything that can’t be changed is often considered to be a big problem in the world of buying and selling properties. But what can Japanese knotweed actually do to your home’s resale value?
What is Japanese knotweed?
Japanese knotweed is the sort of plant that if you’ve heard of it, you’ve heard of it – but if it hasn’t affected you or your garden yet, you’re likely to have not come across it. It’s a perennial plant, which means it in some ways might act like garden favourites such as some herbs – but this type of plant, technically known as Fallopia japonica, is very hard to get rid of and can even be dangerous. In the UK, it’s often seen in gardens in big cities such as London.
Can it affect my house sale value?
If you have Japanese knotweed on your property, you may well find that the resale value is affected. First off, some buyers who need mortgages for their property have to declare the Japanese knotweed in their potential new home – and if the mortgage company turns around and says “no”, that could mean you have significantly fewer buyers than you anticipated. The time and cost involved in chemically treating Japanese knotweed can put buyers off, as can the legal side of the responsibility of dealing with it.
For those homeowners who fail to take into account these problems, the consequences can be severe. If you know that you have knotweed in your garden and you fail to do anything about it, in some circumstances, you could be liable to be prosecuted if it spreads to neighbouring properties. Ultimately, Japanese knotweed can even cause a building to become unstable – and that’s something no buyer will want to deal with.
Here at National Property Trade, we are often able to make purchases of homes even if the market might be against you. Give us a call today to find out more.