As STW is the fountain of all knowledge, I thought I'd pose this question here.
Put an offer on a 2 bed lower ground floor flat (big converted victorian semi in N London) a few weeks ago. Has a patio at the back at garden level and a bit of space outside the windows at the front so not a typical dingy basement flat. The flat was well decorated and seems in good condition.
The mortgage valuation report came back saying they found Japanese Knotweed in the grounds (but no mention as to where or how much) and that a "specialist contractor should be instructed to report on internal dampness" (I'm guessing this is because its a lower ground floor). The lender has retained the mortgage until the knotweed is treated with a 5yr guarantee.
I pushed this back onto the vendor/EA, who has got a damp specialist in which has diagnosed Rising Damp and quoted £6000 for DPC and re-plastering. They also have a quote for the knotweed treatment which comes to £2500. The vendor has agreed to put the money in escrow for both works.
So what to do?
- walk away on the basis of all the knotweed scare stories and that other problems could be uncovered further into the process?
- Get my own quotes on the work as due diligence and get them done, in the knowledge that they would be "sorted" for the future?
- Get a builder I know to take a look at the whole thing in general? Surely a "damp specialist" will always say a DPC is needed? The flat showed no signs or smell of damp.
- Get a homebuyers report. Will this check for things like damp, central heating etc?
- Or something else?
Excuse my noobness, I'm a first time buyer.