Good morning everyone,
first of all, despite many toxic comments, I would like to thank you for the numerous responses!
I will now try to answer the questions in a bundled way
Apartment price:
[*]I would call it a sale between neighbors, which came about, among other things, through some kindnesses, etc. (help with moving, sale/disposal of unused inventory...).
[*]The apartment was valued by an independent expert at about 110-120,000€. A mirror-image apartment, one floor higher and somewhat better modernized, is even valued at up to 130,000€.
[*]Current prices in the immediate vicinity.
All in all, this is not about whether it is a bargain or not. We are aware of this "risk," but it nevertheless remains our decision
Mentioned projects:
[*]Currently a larger church wedding
[*]Upcoming attic conversion (one room) in the parental home (abroad)
Accordingly, our current reserves are planned for that. We are aware that we might get a minimally better loan, but we have decided to accept the higher interest rates in the end.
120%?:
[*]Apartment price
[*]Ancillary purchase costs
[*]10,000€ modernization
Bank:
I would prefer not to name the exact bank, as I do not know if it is even allowed to reveal so much information :/ However, it is a subsidiary of Deutsche Bank.
Plan for the apartment and the loan:
The plan was to pay off the apartment in a maximum of 10-12 years with the help of annual special repayments. However, this has changed somewhat due to the KfW subsidy and will now most likely be replaced by special repayments (bank loan) + building savings contract (repayment of KfW after the 10 years), etc.
In addition, it is planned that we will live there for at least 3 years (to avoid speculation tax), after which it is still open whether we will sell/rent out the apartment and buy a house or a larger apartment.
All in all, it seems my main question (Is this offer good?) has been answered positively, which already reassures me a bit!