A PROFESSIONAL property buying company says it has been left £20,000 out of pocket after the discover of a “home destroying” plant.
Jonathan Rolande is the director of House Buy Fast – a cash property buying company that looks to flick homes up for sale on to investors.
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But one £56,000 South Wales purchase has gone haywire after they discovered a Japanese knotweed infestation after buying the home.
Rolande says the company has now lost £20,000 because of the noxious plant find.
Instead of being able to quickly sell the Aberdare home on to investors, House Buy Fast have now held the domicile for four years.
He told MailOnline: “Overnight it [the house] became in effect unsaleable, and at that point unmarketable.”
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House Buy Fast has now forked out £3,500 to eradicate the plant and and paid thousands more after having to hold the home.
Rolande said the company has had to pay £10,000 on servicing the debt they bought the house with, as well as thousands more on ensuring the home is fit for habitation to rent it out.
He said: “Luckily, it was a relatively cheaper house, so it didn’t completely destroy the business – but it could have done.
“If it was a very large property then we would have been in a bit of trouble with it.”
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Rolande lays the blame for the bad purchase on the shoulders of the surveying company, who he says missed the weed.
He said it was “clear” that Japanese knotweed was present in the neighbouring property and at the home as well as it was coming up through the decking.
I couldn’t get a mortgage after Japanese Knotweed was found nearby… it wasn’t even on my property – don’t get caught out
The weed can prevent buyers from getting a mortgage and homeowners are obliged under the law to control it.
The plant is incredibly fast growing and can grow a foot in a week.
It typically lies dormant during winter and then explodes into rapid growth in spring with bamboo looking stems and white flowers.
Knotweed is very difficult to kill and it grows in most circumstances and climates.
After three years of treatment Rolande believes the plant has now been eradicated and says we wants to warn house buyers about the plant.
“You would be stuck there. If it’s a two bedroom house, and need another room because you have a child, you can’t sell.”
Now he second-guesses all the heart shaped leaves at his own home, worried he could have knotweed in his own garden.
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Rolande said the previous homeowner had also not declared the knotweed when selling it.
It is unclear whether House Buy Fast have brought any legal action over the situation, despite laws covering the sale of a knotweed infested property.
You could be fined £30,000 because of damaging Japanese knotweed
HOMEOWNERS could face a hefty £30,000 fine if there is Japanese knotweed – here’s how to make your garden safe.
Garden experts have issued a warning about the invasive plant as there are more than 50,000 infestations in the UK.
People are urged to be on the look-out for it this spring.
The co-founder of Power Sheds, Jack Sutcliffe, said: “It’s important to prevent them from spreading as soon as possible.
“The easiest way to do this is by spraying them with chemicals, digging them out or burning them.”
Japanese knotweed is one of Britain’s most invasive plants.
It is difficult to eradicate once it has become established.
The experts say it is important to bring in professional help to remove it, as even the smallest piece left in the ground can regrow.
Fines for the Japanese knotweed can go up to £34,000, but a recent lawsuit against a seller whose property had the plant came to £200,000.
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