Selling a Car Repair Garage/MOT Station
Car repair garages, which are often authorised to perform MOT tests on vehicles, are a particular type of commercial property that can be somewhat complicated to sell.
Your top questions when selling a car repair garage / MOT station
✅ What type of property is a car repair garage/MOT station?
A car repair garage can be either a freehold or leasehold property, and it’s a commercial business where people take their vehicles to be fixed by skilled mechanics whenever they are experiencing problems. These properties can also be approved testing stations for MOTs, which are annual roadworthiness inspections that are required of cars over three years old.
✅ What are some reasons why buyers might want a car repair garage/MOT station?
A primary factor that will likely interest a buyer in your property is if it produces a decent profit every year, if the potential owner would like to keep operating the business as a car repair garage/MOT station. Alternatively, an investor looking to redevelop the property for another use to then sell or rent may be more interested if it’s located in a high-demand area.
✅ Are there any factors that can make it hard to sell a car repair garage/MOT station?
You might find less interest from potential buyers if your property is located in a remote area and isn’t making a strong profit, because people looking to own a car repair garage/MOT station will usually only make offers on properties that are already profitable. If your property has a major structural problem this can also cause some buyers to no longer be interested.
✅ Can a private investor obtain a mortgage to buy my car repair garage/MOT station?
It will be very difficult for an individual private investor to get approved for a mortgage to purchase your property, because of the high interest rates and deposit that will be required. However, there are other buyers that don’t need to get a mortgage to purchase your property and can make an offer right away, including quick buyers such as LDN Properties.
✅ Should I fix structural problems with my car repair garage/MOT station before selling?
Whether or not to pursue corrective work for structural problems at your property before selling will depend on several key factors, such as whether you can afford the time, money and effort required. Don’t overextend your finances just to pursue this work, because you can still get a fair and fast offer for your property as is without fixing the issue if you contact a quick buyer.
✅ What is the fastest method to find a buyer for a car repair garage/MOT station?
Selling to LDN Properties or another quick property buyer will take just a handful of weeks, and that includes the time required for the crucial steps of exchanging contract and paying you the sale proceeds. The three other common methods – selling on your own, selling via an auction or selling with an estate agent – can all take several months at least to find a buyer.
✅ How can I avoid paying fees when selling my car repair garage/MOT station?
You can get in touch with LDN Properties or another zero-commission quick property buying company, because they promise to never charge owners any fees when selling their properties. If you instead decide to sell through an auctioneer or estate agent then you will have to pay them commission and this will be subtracted right away from the final sale proceeds.
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