Buying a garage- what to consider?

lincroft1710

Ray_Singh-Blue said:

Thanks. Do you know if this also generally applies to a block of several garages, in a row?

If the garages have individual occupiers it will still apply, but if someone occupies 2 (or more) attached garages, then business rates may apply.

Ray_Singh-Blue

Thankyou everyone who has given advice. Much appreciated. I feel I understand better. Will let you know how the auction goes, it's not for a couple of weeks. I have a maximum bid in mind which I am 90% sure will be too low.

certom

Hi everyone, I found myself browsing this interesting thread because I'm in a position to buy my first garage - even my first property! - in the UK and I'm unsure on some of the steps required.

The property is a garage in England sold at auction. Seeing how the latest sales have gone I don't have much hope of securing it within my budget, but I want to be prepared just in case. 

I asked the auction house several questions on the administrative process but they haven't been very helpful. My main question is, if I am the winning bid, and I pay for the lot in full within the specified timeframe, am I at that stage the owner, or is there any more steps to take for the passage of ownership to me? 
Will I need a solicitor to formalise the purchase? How do I go about the whole thing?

I have been a renter for my whole 13 years in the UK so I am very ignorant on it all, besides the fact that there is no stamp duty... Any help from experienced members would be greatly appreciated, thank you all!

lincroft1710

certom said:

Hi everyone, I found myself browsing this interesting thread because I'm in a position to buy my first garage - even my first property! - in the UK and I'm unsure on some of the steps required.

The property is a garage in England sold at auction. Seeing how the latest sales have gone I don't have much hope of securing it within my budget, but I want to be prepared just in case. 

I asked the auction house several questions on the administrative process but they haven't been very helpful. My main question is, if I am the winning bid, and I pay for the lot in full within the specified timeframe, am I at that stage the owner, or is there any more steps to take for the passage of ownership to me? 
Will I need a solicitor to formalise the purchase? How do I go about the whole thing?

I have been a renter for my whole 13 years in the UK so I am very ignorant on it all, besides the fact that there is no stamp duty... Any help from experienced members would be greatly appreciated, thank you all!

There are other auction houses but reading the following may give you some idea pf what is involved

https://www.barnardmarcusauctions.co.uk/guides/

newsgroupmonkey_

theartfullodger said:

Maintenance, rebuild costs, admin to chase up late payers etc etc etc.

Last garage I bought cost £200.  How much are you expecting to pay, please

I'll take your £200 and raise you to £215,000
https://www.onthemarket.com/details/12560301/

Ah, boogey. It's dead thread necromancy.
I really should check dates before responding.

Ray_Singh-Blue

Promised I'd come back and let people know the outcome of the auction for the garage I wanted to buy. Just didn't specify when...

Anyway, the outcome was that the garage was withdrawn from sale, 48 hours before the auction.

So I didn't buy it. 

Maybe the seller changed their mind, maybe someone got in early with a good pre-auction offer and they went with that. I'll never know! 

TLDR: I still don't have a garage!