House for sale in Koln, Germany

Description: Detached multi-family house with three separate apartments, two floors, with a basement and a converted attic. The living area varies between 58 and 91 sqm, totaling 240 sqm of living space. In addition, the house has a loggia, a patio, and a garage. Year of construction: 1968. Currently, heating and hot water supply are provided by an inoperative Buderus oil central heating system. The building was originally constructed as a two-family house, but due to the later conversion of the attic, it is now used as a three-family house. There is no building permit for the attic conversion. There are general backlog regarding maintenance and modernization of the building, including construction defects and damages. A viewing was only possible in the basement and attic as well as in the stairwell and outdoor area. Price thoughts: The property is listed for sale at a market value of 810,000 EUR. However, potential buyers have the opportunity to secure a 30% discount on the market value, resulting in a purchase price of only 567,000 EUR. Notary fees and agent commission are also waived in this deal. It is important to note the challenges associated with the property's maintenance and legal issues that may arise from the lack of proper permits for the attic conversion. Prospective buyers should carefully consider these factors before making a decision to purchase the property.