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 m² and includes a garage and an outbuilding. The layout of the rooms is as follows: In the basement, there is a hallway, heating room, 2 storage rooms, and a former coal storage, which is now likely 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 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 is dependent on the other co-owners. The heating is likely provided by an oil-central heating system. It was not possible to inspect the interior, but from the outside, it was evident that the condition is rather neglected or run-down, with few or no modernizations. According to information from July 2024, you must take over existing rights amounting to over 300,000 €. Price thoughts: The listed price of 76,000€ seems reasonable considering the condition of the property and the fact that only a half share is being auctioned off. With the possibility of a 30% discount on the market value, the potential buyer could acquire this property for just 53,200€. However, potential buyers should consider the additional costs of taking over existing rights and any necessary renovations or updates to the property. It is crucial to carefully evaluate all aspects before making a decision to purchase this property.