House for sale in Hullhorst, Germany

Property Description: One-sided residential and commercial building with 2 apartments and a pub, 2 stories, partially basement, 122/208 sqm living space, as well as a double garage with storage shed. Year of construction unknown, first entry in the building file from 1958, with renovation and expansion works from 1960 to 1994. Heating and hot water supply are done through district heating. Previously, there was a snack bar and a workshop on the premises. There are significant defects, building law violations have been identified (conversion into an apartment building with 8 units was not approved). It was not possible to determine an economic residual useful life, which is why the market value was determined taking into account a demolition and liquidation value. Price Thoughts: Given the significant defects and the need for potential demolition, the market value of 15,000 EUR seems reasonable. However, with a potential 30% discount, the property could be acquired for 10,500 EUR, making it a potentially attractive investment opportunity for those willing to take on the necessary renovations and legal processes. Additionally, the lack of notary fees and agent commission could be a cost-saving factor for interested buyers.