House for sale in Koln, Germany

Property description: Semi-detached single-family house with two floors, basement, and converted attic. The living area is 140 m². The building dates back to the years 1935-1950 and was likely modernized around 1980. Additionally, there is a former commercial building. There is no heating. The residential building is uninhabitable. There are numerous structural defects that will require extensive renovation or refurbishment. It is questionable whether this is economically feasible or if demolition is necessary. It seems unlikely that the residential building can be made usable in a economically viable way, so it is likely that the property will need to be cleared soon. The garden behind the commercial building is heavily overgrown and inaccessible. Price thoughts: The property is being auctioned at the local district court with a market value of 364,000.00 EUR. There is a potential discount of 30% on the market value, bringing the price down to 254,800.00 EUR. Additionally, notary fees and agency commissions are waived. It is important to consider the extensive renovation and refurbishment required, as well as the uncertain future of the property. The price may seem attractive with the potential discount, but the overall cost of making the property habitable should be carefully evaluated before making a decision.