House for sale in Overath, Germany

Property Description The property on offer is a single-family house with one floor and a basement, built in 1956/1957. It has a living area of 160 m² and includes 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 bunker, now likely used as an oil tank room. On the ground floor, there is an entrance hall, a hallway, a wardrobe, a bathroom, a toilet, a kitchen with a pantry, a bedroom, a living room, a hallway, three more rooms, and a terrace. It is important to note that only the fractional share of the house is being auctioned off. The owner of this share cannot independently decide on the use of the entire property but is dependent on the other co-owners. The heating is likely provided by an oil-fired central heating system. It was not possible to view the interior, but from the outside, it appeared to be neglected or run down, with few or no modernizations. According to information from July 2024, existing rights worth over €300,000 must be assumed. Price Thoughts The listed price for this property is €76,000, but there is potential to secure a 30% discount on the market value, bringing the cost down to €53,200. Given the condition of the property and the additional liabilities that need to be taken on, it's important for potential buyers to consider the total investment required for renovations and legal obligations. This property offers a unique opportunity for those willing to invest time and resources into revitalizing it to its full potential.