Interpretation of Seller Behavior

Due to the many accesses, the seller now more than ever thinks that someone will break down his place at any moment with so much interest :oops:

We were also looking for existing properties at the beginning. For a house like that, we would have had to pay 600K+ €. But then with an oil heating system. I find it crazy how different the prices are depending on the region and location.

haha, that's a blast. He probably installed it himself. No insurance pays out for burglary with that. Funny. Not.

But that's a nice example of how price expectations diverge. He installs a new door, 5000€, and factors that into the selling price. The potential buyer sees this specialty and thinks, "ok, subtract 5000€, the door needs to be new." The floor plan seems special. Many rooms in a small living area. Any renovation enthusiast would think the first thing to do is to take out 2-3 walls. But that would now ruin the seller's investment. Or take a look at the newer bathroom. It looks quite nice, but what are those platforms supposed to be? The complete opposite of barrier-free/handicap accessible and just a stupid, unnecessary tripping hazard even for fit people. I once lived in a rental building where the bathroom was brand new. The landlord's pride and joy, easily 20 sqm large but unfortunately without a bathtub. If I had bought the place, I would have renovated the bathroom first.

In real estate jargon, one would probably call it a "lover's object."

I watched the video all the way through. I always find stuff like that interesting :)

There are still quite a few issues open. I wonder if he’ll manage all of them if they want to move to southern Germany? Overall, I think there’s still quite a bit of work to be done. When you hear sentences like "the stovepipe would have cost 500 euros – that was too expensive for me. So I chose the ugly solution" (which really looks ugly and unfinished) that’s also off-putting. That won’t be the only issue where he chose the cheaper solution. The fact that there are so many unfinished small jobs usually also shows that money isn’t flowing freely.

You can definitely tell he put a lot of effort into the listing. I think that’s good. But you can also tell there’s a lot of passion in it. He wants to cash in on that. He probably calculated his own labor time at the hourly rate of a master craftsman business. (It always reminds me of buying used cars as a 20-year-old, when the guys had customized their cars themselves and factored that money into the sale price)

Either way, that explains his hurt feelings. The price is steep for the area. From my point of view, the house doesn’t justify that. Eutin isn’t a booming region either. House prices have risen in the past year and a half—but not like a rocket (according to a Capital analysis, 5%).

What I learned when visiting existing properties: always ask whether all extensions and additions are legal. I believe basement rooms converted into living spaces also require approval in Schleswig-Holstein. Looking at the requirements for that, I doubt the conditions are met here. But who knows—maybe the previous owner used an old regulation.

If the seller is really lucky, he’ll find someone who’s exactly looking for that: a house with a granny flat and many rooms downstairs for their own use. Everyone else won’t pay that price. Even though the seller doesn’t have to care about that. The final price is always influenced by demand. And the price the buyer is willing to pay ALWAYS includes the necessary renovation costs.

We were also initially looking for existing properties. For such a house, we would have had to pay 600K+ €. But then with an oil heating system. I find it striking how different the prices are depending on the region and location.

Yes, and now take a look at Scout ID 124405670 for comparison, with us a roughly comparable house from 1985, equally impractical with a granny flat, costs almost 1.2 million. Then you can imagine how incredibly cheap I find this offer ;-)

However, you are right that if regionally it is not the case that a buyer can be found for that price, then it is simply too expensive for the location. That's quite possible. And the criticisms you found are really very interesting.

Nevertheless, I would not have offered a concrete price that far below, but only expressed my interest and said that it is clearly too expensive for me personally considering the renovation measures necessary.

And between your second offer of 360k and the asking price of 430k, there is still a wide range for potential buyers.

Yes, and now take a look at Scout ID 124405670 for comparison; a roughly comparable house from 1985 with an equally impractical granny flat costs almost 1.2 million here. Then you can imagine how incredibly cheap I find this offer ;-)

Yes, it's crazy. But the 200sqm plot from your example alone is easily worth 300,000 euros. Probably more. Kirchheim is a top location with S-Bahn to Munich. I believe you can get to Munich central station in under half an hour..
Look at the location description of the house here:
"Travel times:
Lübeck 35-40 min.
Autobahn A1 15 min.
Kiel 40 min."

Lübeck and Kiel are not exactly THE highlights in Germany.
The place is in the middle of nowhere.

If you now take a house in southern Brandenburg as a comparison, we’d all be crying :D

If I had to bet, I would say the seller will end up somewhere near the last offer from the OP. They just need some time to come to that realization.

And the OP will know for next time that probably unrealistic offers have to be negotiated down in a longer conversation. And the seller needs a few weeks to accept that.

Something like this:

Nevertheless, I would not have made a concrete offer that far below, but only expressed my interest and said that it is clearly too expensive for me personally considering the remodeling work I would need.

Whereas the argument about the PERSONALLY necessary remodeling won’t hold. I wouldn’t even mention that. More like "generally necessary" remodeling.

I am still totally amazed at all the things the owner still wants to do so quickly. Windowsills, door trims, electrical cables here and there. Insulation. I think he also wants to replace radiators. A bit of painting here and there. Some repairs in the kitchen. The windows are also not finished yet. Plus the baseboards in numerous rooms. I probably forgot lots of things.
He hasn’t managed to do all that in 4 years and now it all should be done in a hurry.

Option 1: won the lottery and now they’re living a good life by the Alps.
Option 2: inherited house and money in southern Germany
:)

But actually, it doesn’t really matter.