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41749 Viersen
Property Description: This two-story single-family house with a basement and integrated garage in the basement was built around 1910. It has living area extensions and additions that were likely added in 1981/82. The layout includes storage rooms, a boiler room, workshops, and a garage in the basement. On the ground floor, there is a hallway, a bathroom, a bedroom, a kitchen, a dining room, a living room, and two terraces. The upper floor has a bathroom, a storage room, a kitchen, a living room, and the attic has a hallway, two rooms, and a spacious roof terrace. There is no permit for the single-story extension, however, there seems to be an indefinite tolerance in place. Also, the necessary permit is missing for the garage in the basement, which could not be issued retroactively. There is a significant backlog of maintenance and repairs, making the entire building urgently in need of renovation. It is estimated that at least €525,000 will be needed for renovation and modernization costs to bring the building back to standard. Currently, there are significant moisture damage in the masonry, leading to stalactite and stalagmite formation, as well as some mold growth. A massive crack between the ground floor and the basement ceiling required the support of the basement ceiling. The electrical installation does not meet current standards, and the water and sewage installation have damages. This list is not exhaustive. Please contact us if you have further questions by phone, Monday - Friday from 08:00 - 20:00, Saturdays/Sundays from 10:00 - 18:00 at the telephone number 0221-97459790. Thoughts on Price: The property is being auctioned by the competent district court with a market value of €172,000. There is a possibility of securing a 30% discount on the market value, allowing for the purchase of the property for only €120,400. Additionally, notary costs and agency fees are waived. The property presents a significant opportunity for investment at a discounted price, considering the estimated renovation costs. Investing in this property could lead to a substantial return on investment after completing the necessary renovations and repairs.
41749 Viersen