house for sale for 11k by bankruptcy lawyer, is it legitimate?

74 posts in this topic

14 hours ago, SpiderPig said:

Increadible... 

You start your comment with "We cannot make any kind of helpful comments" and then shove the fucking knife in and twist it!

 

If telling him its not going to be cheap and easy is sticking the knife in and twisting it, then he needs to walk away because it will be the upset of his life.  

 

All I said is that it will be expensive and hard work, and as long as he knows that going in he is grand.

 

You have actually done this, I presume you are happy with your decision.  So come out and say you didnt spend more than a couple of grand on refurbishment, and it wasnt more than a couple of days doing it up and Ill apologise and accept you are right.  Until then Im saying he needs to know what he is getting himself into.

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@GoBike... If the Makler took 10% of the value, he would only make a grand!!   Not a very good buisness plan out in the east, hence the big courtage price.. 

 

@Zweibelfisch, 

Yes... I have spent time and money doing up my places, but when I bought them, I was under no impression that they didnt need any work doing to them... 

 

In total.. I would estimate 4 months of work..  ( I am self employed, so time away from work wasnt any issue..)

Cost?  Its hard to say, but 3 grand on Kitchen and bedroom ( I bought a second hand kitchen on ebay and added more units, draws etc and new worktops.. and a lick of paint... (2-3 weeks)

 

Lounge... You have surely seem the piccies in one of my threads... was about a 600€ job incl new carpet.  (2 weeks)

 

Chill room/upper Landing...  that was a big big job and took 2 weeks... Quite a few materials and a skip... and 400€ for 3 days of a pals help...   Approx 1700€ in total for this room/area. 

 

My property has now gone from less than 100k purchase price to just over 200K in retail price...in just over 5 years... 

 

No mortgage  involved... 

 

 

But as you rightly say.. as long as you look at the property in the cold light of day and take off them "Oh fuck me this is a bargain property" spectacles... you shouldnt go wrong... 

 

 

We dont know what NoahBerlin wants to do with the property... we dont know anything about his financia status, real age and just what he does for a living... 

 

If I didnt have the responsibillity of a child to thing about... I would already have bought the place as long as there are no surprises waiting!! ( Rathaus check up etc etc etc...)

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On 2/28/2019, 7:50:33, NoahBerlin said:

Hi,

I'm about to sign a contract for a house purchase and I need advice as I'm a little scared, confused and clueless.

I found the house for sale on immobilienscout24, the price is very low in the region of €11000 and is being marketed by makler of a national bank (e.g. sparkasse) + a high commision, more than half of the price.

 

Okay I'm going to weigh in. My family has bought ruins in France and done them up. I helped. (they were 60). We spent whole months covered in mud in old caravans with wheelbarrows of soil, chicken poo, brambles, bonfires. We were conned for 5000 quid by a Brit estate agent. I drystone walled and did pointing of old cement. (I also buggered off fishing idyllic ponds when my parents bickered with each other). You want to know what happens to these projects? They often wreck marriages and lives. My parents stayed the course as they are old school. The model for this was Peter Mayle  "A Year in Provence" which sold millions but lied about the glamour of expat life. Where did Peter Mayle end up? Not in Provence but in New York, fed up with  the fame he attracted to Provence. 

 

A few years back I helped empty out a listed building, made out of old wattle and daub, "fachwerk" style, with a wonderful balcony. Now the wonderful old lady I helped said there was a preservation order on the building which they had to have removed as although they look fantastic from the outside, they are damp as hell inside and as my lady had asthma was a health risk. The best thing was when she had the preservation order removed, we sorted out all the junk and she sold the land and the house was demolished. it is now a fantastic modern new set of homes. 

 

Now the critical thing is - this based on my present house which we bought and did up every year (still one outstanding project - flooring) are there plans to upgrade the commuter railway in the works? if so you have a goldmine. We bought ours only wanting a country place. In the meantime they have expanded the railway and our town has permanent cranes where they build non stop. We are getting a supermarket right near us in the next few years. Property prices have tripled around us. Commuters are crazy with our town as you can be in Munich Hbf by train in 30 minutes. 

 

So unless there are plans to upgrade the trains or transport net, don't touch it with a bargepole. 

 

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1 hour ago, jeremytwo said:

 

Okay I'm going to weigh in. My family has bought ruins in France and done them up. I helped. (they were 60). We spent whole months covered in mud in old caravans with wheelbarrows of soil, chicken poo, brambles, bonfires. We were conned for 5000 quid by a Brit estate agent. I drystone walled and did pointing of old cement. (I also buggered off fishing idyllic ponds when my parents bickered with each other). You want to know what happens to these projects? They often wreck marriages and lives. My parents stayed the course as they are old school. The model for this was Peter Mayle  "A Year in Provence" which sold millions but lied about the glamour of expat life. Where did Peter Mayle end up? Not in Provence but in New York, fed up with  the fame he attracted to Provence. 

 

A few years back I helped empty out a listed building, made out of old wattle and daub, "fachwerk" style, with a wonderful balcony. Now the wonderful old lady I helped said there was a preservation order on the building which they had to have removed as although they look fantastic from the outside, they are damp as hell inside and as my lady had asthma was a health risk. The best thing was when she had the preservation order removed, we sorted out all the junk and she sold the land and the house was demolished. it is now a fantastic modern new set of homes. 

 

Now the critical thing is - this based on my present house which we bought and did up every year (still one outstanding project - flooring) are there plans to upgrade the commuter railway in the works? if so you have a goldmine. We bought ours only wanting a country place. In the meantime they have expanded the railway and our town has permanent cranes where they build non stop. We are getting a supermarket right near us in the next few years. Property prices have tripled around us. Commuters are crazy with our town as you can be in Munich Hbf by train in 30 minutes. 

 

So unless there are plans to upgrade the trains or transport net, don't touch it with a bargepole. 

 

 

As always... Jeremy is right...

 

Fachwerk houses are damp and best pulled down... 

 

Public transport is critical....

 

And the bargepole needs to be atleast 2.5m long...

 

 

Is it really beer o'clock.?

 

 

 

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3 hours ago, jeremytwo said:

I drystone walled and did pointing of old cement.

 

Damage caused to stone and brick walls by Cement Pointing

 

A solid brick or stone wall, built with lime mortar, needs to breathe.  It loses its moisture content through the mortar joints.  If this breathability is blocked, through the use of cement, the wall immediately starts to get wet.  Water is trapped, and the only way it can get out is via the brick or stone.  In winter, the damp brickwork then freezes, and the familiar rotting and spalling bricks or stone start to appear.  Cement pointing is responsible for dreadful damage to thousands of walls all over the country.

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Thank you Metall for the scientific observations. None of that however is a problem for us as we sold it in 1999. The house looks fantastic and if you Google the village name our house with its 300 year old courtyard look stunning. 

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@GoBike... If the Makler took 10% of the value, he would only make a grand!!   Not a very good business plan out in the east, hence the big courtage price. 

 

Fair enough but  when you sell a 600,000 property you still pay the same percentage. I would be happy with a flat 5 grand. When he re-sells the buyer will also have to add the 5 grand again.  

 

Its a mid terrace with two empty places next door. What type of neighbours could you end up with? 

You may be required to bring the energy level up to a minimum standard by law as well? 

But as you correctly point out you have to be in it to win it. Germans are beginning to wake up, but position is king. 

 

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Just now, SpiderPig said:

A Makler is in it to make money!!!   Wake up and smell the coffee

 

There is more skill and risk putting up a sat dish

If he asked 2000 he would have a sale. 5000 he is just waving it around all day still be waving it around in two years.

You spend 15 grand at an auction no maker fees. Although looking though Google there is quite a few trying to charge a fee for finding the public on line listings. 

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On 7.3.2019, 09:43:34, SpiderPig said:

 

 

It will always remain a dream if you do nothing about it... 

 

Some people play the stock market.. some people play the property market and some just play Safe Sam... 

--Snip--

There are so many that say to me " I wish I had your courage/Stupidity to splash out and do what you have!"... 

Yes, I absolutely agree.  It will remain a dream.  Unfortunately I am not the only one involved in the decision making.  "Safe Samantha" would require a guarantee chiseled in granite and sealed in blood that the house would double in value with no effort required.  Seems a rather German trait.  Or at least the ones that I know.  Good for the insurance market.  Not so good for innovation and risk investment.  

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27 minutes ago, BradinBayern said:

Why is the OP paying Makler fees for a Zwangsversteigerung? 

 

 

Where did you get that Gem from?

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