You want to sell your garage, but you’re not sure how. It can be time consuming, expensive, and frustrating. Many people are unsure about how to take this forward, as its complex and involves attracting a buyer, negotiating a price, and dealing with solicitors. It can be more challenging than buying other property. We have created this guide to help you, and make it much easier.
If you are thinking of selling your garage, our guide will help you understand what to do. If it’s time to sell your garage, below is a list of things that we think should be taken into account:
Does my garage need to have a access?
The most attractive garages to buyers are those that are easily accessible. This means, ideally having 24/7 vehicle access to the garage. This can be via an access lane, or could be part of the entrance to a block of garages. If you haven’t got access to the property without crossing your boundary or, land this will need to be established as part of the sale. You need to be aware that this can add significant cost to the legal fees for the sale of the property. It means that whatever access is agreed can be used at any time of the day, or night. For example, if access is given by your drive, people will be able to use the drive at any point of the day or night to get access to the garage.
Is there any parking in front of my garage?
If it has access from both directions then its best if there is no parking outside it. The buyer needs to have enough space available for their vehicle and any other visitors they may want to bring with them when viewing or touring the garage. If you are selling a detached garage, then some buyers may want to park their vehicles in front so they can enjoy a coffee while viewing or touring around your property.
Can I sell my garage without selling the house?
This is important, as you should be aware that the garage will be sold on a separate title to your property and not on the title of the house, bungalow or apartment. You need to ensure that this is properly documented in your legal documents. If the garage needs to be Separated from your property’s title it can add significant cost to the sale of your garage. However, K&G Lettings Limited are able to deal with these challenges.
Does the condition of the garage matter if I want to sell the garage?
There are lots of factors that you need to consider when selling a garage. The condition of the garage will have a significant impact on how much it sells for, so it’s important that the buyer is aware of the condition. If your garage has been used as an extra storage space and not maintained properly then buyers may be less interested in purchasing it and therefore may be prepared to pay less than if its in good order. If you have an Asbestos garage roof it could significantly impact the amount that a buyer will pay, because of the costs of removing and replacing the Asbestos using specialist contractors.
What is the market value of my garage?
You need to ask yourself this question. The cost of your garage depends on what the buyer is prepared to pay for it, so how do you know how much they’re willing to pay? Having a clear idea of previous sales can be challenging to find as garages are rarely sold on the open market, through estate agents. The information isn’t available through the usual property portals, which focus almost exclusively on traditional houses, bungalows, or flats and do not list information on the price of garages. It can be a friend or family member who has recently bought or sold a property nearby or asking people in the local area. Otherwise, contacting a company such as K&G Lettings Limited we will provide you with a fiar offer for the property that reflects the current market conditions and the condition of the property.
How do you know what buyers will be prepared to pay?
Garages can be more challenging to sell than a traditional property. Those living close to the property may pay more than other buyers, as it has more utility value. Someone who lives in a property without a parking space or storage may pay more money for the garage. However, they may not have the savings to be able to buy the property, and getting a loan or mortgage may be difficult. If your buyer needs to get a loan or mortgage on the garage, it will slow the sales process, as there are very few lenders who will provide a loan. If the garage has asbestos it can be very challenging to get a loan on the garage.
What other options do I have?
At K&G Lettings Limited we specialise in buying Garages. We can take the stress and hassle out of selling a garage. We can deal with all of the details, deal with solicitors, and make any repairs – even if the garage has an asbestos roof. At K&G Lettings Limited, we specialise in buying garages quickly and without hassle. This removes the emotional and financial hassles that come with selling your Garage.
Do you want to get your no obligation cash offer for your Garage in Yorkshire or Lincolnshire? If YES, fill out the form below.
Even if you don’t decide to sell, we’d love to answer any questions you might have CALL 01482 961961, or Text ‘SellMyGarage’ to 07984388819.
The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.
