House for sale in Overath, Germany

Property description: The property being auctioned is a single-family house with one floor and a basement, built in 1956/1957. It has a living space of 160 m² and comes with a garage and an outbuilding. The layout of the rooms is as follows: In the basement, there is a hallway, a boiler room, 2 storage rooms, and a former coal storage, which is now likely used as an oil tank room. On the ground floor, there is an entrance hall, a hallway, a cloakroom, a bathroom, a toilet, a kitchen with a pantry, a bedroom, a living room, a hallway, three additional rooms, and a terrace. It is important to note that only the half share of the house is being auctioned. The owner of this share cannot independently decide on the use of the entire property but is dependent on the other co-owners. The property is most likely heated by an oil central heating system. It was not possible to view the interior, but from the outside, it was evident that the condition is rather neglected to run down, with few or no modernizations. According to information from July 2024, you must take over existing rights amounting to over 300,000 €. Price: The property's market value is 76,000.00 EUR. You may potentially secure a 30% discount on the market value, resulting in a purchase price of only 53,200.00 EUR for the above-mentioned property. Notary fees and agency commissions are also waived. Thoughts on price: Considering the condition of the property as described, with the need for significant renovations and the requirement to take over existing rights, the initial market value of 76,000.00 EUR may seem quite high. However, with the opportunity to secure a 30% discount and avoid additional fees, the final purchase price of 53,200.00 EUR could make this property a valuable investment for those willing to undertake the necessary renovations. It is important to carefully consider the potential costs involved in bringing the property up to modern standards before making a decision.