Property from a forced sale + renovation, assessment

Thank you for your honest answers.

To possibly answer the question regarding muscle mortgage, everything that would be done by own effort would be the gutting.
That means removing wallpaper and possibly interior cladding, "de-tiling" the bathrooms, removing interior doors, removing floor coverings, etc.
Here I might also have fairly inexpensive support from acquaintances.
And then things like painting, possibly interior doors, wallpapering, painting... I could also imagine "easier" plastering work from a craft perspective.

But everything else I would actually prefer to leave to professional companies.
Although I could also imagine doing work like insulating the basement ceiling myself.

Regarding the 2 bathrooms, one bathroom already exists in the attic and one on the ground floor, both are located one above the other.
In terms of spatial layout, I would only change something in the attic if at all.

And no, I am not a knight without fear and reproach, that's why I am here to get advice from you.

I consider the 150k not unrealistic. I have renovated two houses and depending on the region, it can be more expensive or cheaper. What you then need is an overall concept. I would insulate the roof, facade, basement ceiling, and triple-glazed windows. Then remove the screed and install underfloor heating. Then a wonderful small air-to-water heat pump. Then complete electrical, water/sewage, bathroom, etc. It is questionable whether the roof needs to be re-roofed. Photovoltaics are OK, but the storage is unprofitable. Solar thermal is usually not worthwhile. Whether it is worthwhile is another question. For demolition, you will probably be around 20k plus new shell construction. But that also often costs 80k. Therefore, I see it as potentially worthwhile. Provided the structure is good and you have the desire and time to deal with it, then go ahead.

What is interesting about it is the auction situation. It may be that there is little interest in the object and he gets it for 45 instead of 70. Market value is not the highest bid. But then it starts to get really interesting.

What is interesting about it is the auction situation. It may be that there is little interest in the property and he gets it for 45 instead of 70. Market value is not the highest bid. But then it really starts to get interesting.

The problem with court-ordered auctions is that such properties (and residential real estate in general) are in high demand. Often, the price goes above the market value because many private individuals think "bargain, because court-ordered auction." It only gets cheaper, if at all, in structurally weak regions. But then you can also directly buy a house "normally" for little money, since there are plenty on the market.

To the previous speaker: I'll put it this way: Kiel outskirts. Connection with city highway and suburban train every 30 minutes. Location close to a lake. Old REH. Lots of renovation backlog. 1963 original condition. Advertised at the Sparkasse for 125. Hardly any demand. My brother has now gotten it for clearly less. So: there are properties that no one really wants. Not hip and chic enough, too much work, etc. This property could also be something like that. Could be. He doesn’t have to bid if it’s different. But when the appointment is there and he is alone and says two-thirds of the market value, then it starts.

So removing wallpaper and possibly interior cladding, "de-tiling" the bathrooms, [...] And no, I am not a knight without fear and reproach,

For example, I would leave wall tiles where not every half centimeter is needed. Test yourself to see how well you can measure up against or – you can find the thread about the property of the latter here: – "your" house is certainly smaller there, but in my opinion of significantly shabbier condition, i.e. requiring more extensive work. Comparable to Saar2and’s property is also that of or, more "appropriately" sized, that of – nominally six years older, but I hope even as a layperson you see that the property of your desire is not in better shape.

that there is little interest in the property and he gets it for 45 instead of 70. Market value is not the highest bid. That is when it really starts to get interesting.

... however, that would be an aspect that could slightly change my assessment.