House for sale in Koln, Germany

Property Description: One-sided semi-detached single-family house with two floors, basement, and converted attic. The living space amounts to 140 sqm. The building dates back to the years 1935-1950 and was presumably modernized around 1980. Additionally, there is a former commercial building. There is no heating. The residential building is uninhabitable. There are numerous construction defects that require extensive renovation or refurbishment. It is questionable whether this is economically feasible or if demolition is necessary. It seems unlikely that the residential building can be made usable again in a economically viable way, so it is likely that the property will need to be cleared soon. The garden behind the commercial building is heavily overgrown and not accessible. Thoughts on Price: Considering the current condition of the property and the extensive renovations needed, the price of 364,000€ seems high. Potential buyers should carefully assess the costs of renovation or refurbishment in addition to the purchase price. However, with a potential 30% discount on the valuation price and the waiving of notary and agency fees, the final cost of 254,800€ may make this property a more attractive investment opportunity for buyers willing to take on the challenge of restoring the property. It is important to consult with a real estate professional and conduct a thorough inspection before making a decision on purchasing this property.