House for sale in Rheinbach, Germany

Property Description Semi-detached single-family house divided into two apartments, the front house is an old building with one floor, basement, 98 sqm living space, with a terrace. In addition, there is an extension without a basement with one floor and 62 sqm living space, built around 1953, with the extension dating back to 1997. The layout is as follows: The basement contains communal areas and two cellar rooms. On the ground floor, there is a hallway, a bathroom/ WC, and a hall. On the top floor, there is a hallway, a WC, a kitchen, and three rooms. The other apartment on the ground floor has a shower room/WC, a kitchen, and two rooms. The kitchen in the extension has not been installed yet. The living room of the apartment in the extension is located on the ground floor of the main building. In the basement of the main building, there are communal areas and two cellar rooms that can only be used by apartment no. 1. There is no structural separation between the apartments. The building was affected by flooding, and the heating system has been out of operation since heavy rain in 2022. Price Thoughts The listed price for this property is 548.000€. However, there is a possibility to secure a 30% discount on the market value, bringing the price down to 383.600€. Additionally, notary fees and agency commissions are waived. This property is being auctioned by the local court and presents an opportunity for potential buyers to acquire a unique investment. Overall, given the issues with flooding and the inoperable heating system, the property may require significant renovations and repairs. Potential buyers should carefully consider these factors before making a decision.