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 sqm. The building dates back to the years 1935-1950 and was likely modernized around 1980. In addition, there is a former outbuilding. There is no heating system. The house is uninhabitable and has numerous structural issues that would require extensive renovation or restoration. It is questionable whether this would be economically feasible or if demolition would be necessary. It seems unlikely that the house can be made usable in a financially viable manner, so the property may need to be cleared soon. The garden behind the outbuilding is overgrown and inaccessible. As for the price, the property is being auctioned by the local court with a market value of 364,000.00 EUR. There is a possibility of obtaining a 30% discount on the market value, bringing the price down to 254,800.00 EUR. Notary fees and agency commissions are also waived. Overall, this property is a unique opportunity for buyers who are looking for a challenging renovation project. The potential for significant savings on the purchase price makes it an attractive investment for those willing to take on the necessary work to restore the property to its former glory.