House for sale in Rheinberg, Germany

Property description: Erbbaurecht for a semi-detached house with two residential units, one floor, cellar, and converted attic. The total living space is 148 square meters. The property includes a garage and a wooden garden house. Built in 1964, the garage was built in 1972 and underwent modernization around 1990 (new windows and bathrooms). The layout is as follows: On the ground floor, there is a hallway, bedroom, bathroom/toilet, children's room, kitchen, and living room totaling 78 square meters. The attic has a hallway, guest toilet, bedroom, bathroom/toilet, storage room, kitchen, and living room on an area of 70 square meters. The heating and hot water supply are provided by an oil central heating system, and there is also a fireplace in the living room. The house requires significant renovation work as there is a lot of household goods and clutter inside. A detailed inspection could only be carried out to a limited extent. Extensive renovation and modernization work are required. The Erbbaurecht (leasehold) is valid until September 27, 2063. Thoughts on price: The property is being auctioned at a market value of 179,000.00 EUR. However, there is a possibility to secure a 30% discount on the market value, making the purchase price only 125,300.00 EUR. In addition, notary fees and agency commissions are waived. The property presents a renovation opportunity for potential buyers with vision and resources to invest in updating and modernizing the space. Considerations should be made for the additional costs associated with the necessary renovations when assessing the overall value of the property.