House for sale in Overath, Germany

Property Description The property for sale is a single-family house with one floor and a basement, built in 1956/1957. It has a living area of 160 sqm and includes a garage and an additional building. 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, which is likely now 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 more rooms, and a terrace. It is important to note that only the ideal half-share of the house is being auctioned. The owner of this share cannot independently decide on the use of the entire property but depends on the other co-owners. The heating is likely provided 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 and run-down, with few or no modernizations. According to information from July 2024, you must assume existing rights amounting to over €300,000. Price Thoughts The listed price for this property is 76,000€, but there is a possibility to secure a discount of 30% off the market value, bringing the price down to only 53,200€. Additionally, there are no notary fees or agent commissions to pay. This presents an opportunity for potential buyers to acquire this property at a reduced cost. The condition of the property and the need for significant renovations should be taken into consideration when evaluating the overall value. Buyers will need to factor in the additional costs of the required repairs and updates when determining if this property is a suitable investment.