House for sale in Koln, Germany

Property Description: Detached multi-family house with three separate apartments, two stories, with basement and converted attic. The living area varies between 58 and 91 sqm, totaling 240 sqm. Additionally, the house has a loggia, a patio, and a garage. Year of construction: 1968. Heating and hot water supply are currently provided by a non-functional oil central heating system from Buderus. The building was originally built as a two-family house, but due to the conversion of the attic, it is now being used as a three-family house. There is no building permit for the attic conversion. There are general backlogs in the maintenance and modernization of the building, including structural defects and damages. A viewing was only possible in the basement and attic, as well as in the stairwell and outdoor area. Price Thoughts: The property is listed for 810,000 EUR but is being sold at a court auction with a market value of 567,000 EUR, potentially offering a 30% discount. It is important to consider the additional costs and possible risks associated with purchasing a property at auction. Additionally, the property may require significant investment in repairs and renovations due to the existing issues mentioned in the description. Buyers should proceed with caution and conduct thorough inspections and research before making an offer on this property.