house for sale in Stadthagen, Germany

From a buyer's perspective, this property is located in Stadthagen, which is a town in the State of Lower Saxony, Germany. The property is a three-unit two-story house with a Keller (cellar) and a fully converted attic. It has a total living area of 273 square meters with additional facilities like a utility room, guest WC, three bedrooms, and two bathrooms with bathtubs. The property was built in 1975 and had the Keller converted into living space in 1997. The property description indicates that it has a modernized interior, with immediate need for repairs and refurbishment as there are signs of damp and mildew in the basement. The auctioned property further needs mop up work, including unfinished renovations, some tiling being loosening and discolored grout. From an investment point of view, it seems that the property needs considerable effort and cost to bring it up to a habitable and presentable condition. This could be a good opportunity for buyers who enjoy renovating properties and can spot the potential for higher values in a finished product. The property is being sold at an auction with a reserve price of 198,000 euros. Considering the condition of the property, it might be possible to negotiate a purchase price at a lower level, say 138,600 euros, including 30% reduction on the valuation price, saving on notary fees and the estate agent's commission. For a lifestyle purchase, the property might not meet the expectations of potential buyers due to the poor condition and the renovation work that it requires. However, for buyers who have a keen interest in renovating properties or for those looking for a project at a lower price, this could be a good opportunity to get in hoping for a potential profit in the future. Please note that I suggest contacting a qualified local property inspector or surveyor to inspect the property for a reliable assessment of the repair costs and potential for a successful renovation before making a decision.