House for sale in Koln, Germany

Property description: Detached single-family house (condominium no. 1) with two floors, basement, a living area of 159 m², balcony, a single-storey double garage without basement and parking spaces in front. The exact year of construction is not known, likely from the 1950s. The layout includes in the basement: pantry, oil storage room, boiler room, utility room, and laundry room; on the ground floor: hallway, shower room, kitchen, dining room, and living room; on the upper floor: hallway, bathroom, and two bedrooms; in the attic: toilet and another room. The gas-operated heating system is defective. Hot water is provided by electric devices. The residential building could only be partially viewed, and the garage not at all. The condition of the building is average, but the heating system and many parts of the sanitary facilities need to be renewed. The balcony, attached to the building extension, extends over the adjacent property areas (parking spaces and paths) as well as behind the house (courtyard). Thoughts on the price: The property is being auctioned at the local district court with a market value of 840,000.00 EUR. There is an opportunity to potentially secure a 30% discount on the market value, bringing the price down to 588,000.00 EUR. Furthermore, notary costs and agency fees are waived, making this a potentially attractive investment opportunity for those willing to renovate and update the property.