House for sale in Geilenkirchen, Germany

Property Description: This property is a two-story single-family house in need of demolition, with outbuildings and two parking spaces. It was built in 1920, with the outbuildings added around 1950. The condition of the building is very poor, and no interior inspection has been conducted. Due to the tight building boundaries with the neighbors, restoring the property after demolition may not be feasible in its current form. The house is vacant, and the costs for renovation and modernization to make it inhabitable are likely to exceed the value of the property post-restoration. Price Thoughts: The listed price for this property is 700,000 EUR, but there is an opportunity to potentially secure a 30% discount on the market value, bringing the price down to 490,000 EUR. Additionally, there are no notary fees or brokerage commissions to be paid. It is important to consider the high costs associated with renovating this property, as they may outweigh the potential value post-renovation. This property is being auctioned by the local court, providing an opportunity for buyers looking for a renovation project at a potentially discounted price.