Single-family house from 1987. Evaluation of the price and the "necessary" work

Now I'm going to pour even more water into your wine (on the way to a sober relationship with this offer): It may be that as a nature lover you appreciate the Hackenberg (I once came through there while hiking – scenically breathtakingly beautiful), but please also think of your daughter.
If I see it correctly, you need a car for every errand. Not even a supermarket is within walking distance.
The bus to your own city center (RS) takes over 30 minutes, and to the center of the larger neighboring city Wuppertal you’re almost an hour on the way, with a transfer included.
Traffic-wise, without "Taxi Mama" it’s rather suboptimal.

Sorry. But I won’t say anything except -> absolute nonsense :)

Well, I already had a rough phone call today with an energy consultant to find out what such a "schedule" would look like. The bank is checking the framework conditions and the value of the single-family house today. After that, I will have taken a big step forward.

I will then report what value the bank comes up with here.

Have a good start to the week to everyone reading along here ;)

Sorry. But I have nothing to say about that except -> absolute nonsense :)

I am now out of your discussion and also all the following ones you start. Simply writing "absolute nonsense" on a well-researched and reasoned post is the surest way to shoot yourself in the foot in a forum. For your information: I specifically checked things like public transport travel times to avoid writing nonsense.
You could have gladly contradicted my post with facts – and justified it accordingly. But not like this.

No offense . (no idea if you will even read the next lines at all)

If any other users are reading along, feel free to skip this paragraph, below the bank evaluation continues.

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I have been living in this area for almost 39 years. I was born and raised here. What should I learn from someone who passed through here once while hiking and specifically looks up the public transport times online just to pour "cold water on my parade"?!

I am 8 minutes WALKING from a small supermarket, next to it is a bakery, our family doctor, a pub, a bistro, a hairdresser.
Less than 5 minutes to the H2O swimming pool.
Sports fields, halls, etc.

It takes me 20 minutes WALKING to get to the old town and thus also the gastronomy. 3 minutes out of the old town, the "city" is not Remscheid but
Lennep. That means EDEKA, ALDI, PENNY, Kaufpark, Rossmann, 2 minutes further ACTION, DM, Rewe, Deichmann, a travel agency, snack bars ->
Döner, Chinese, Italian, Greek, Spanish, etc. pp.

All of this is within walking distance. By bike, less than 10 minutes. By bus, it’s less than 10 stops.

I wonder how my sisters and I ever managed to survive here... and that without taxi from mom/dad.

To Wuppertal I take the bus to the train station and then the train. So what?!
To Remscheid I take the bus without changing..

I have already thanked you several times for your input. But as mentioned above, someone who has lived their whole life in this area does not need watered down wine.
Now, as I write these lines: honestly. I write that for us this is the absolute dream location etc. pp. why not just leave it at that? Why bother to look up public transport times online just to then show that the connections would supposedly be crap. and even if it were so, it can still be the dream location for someone.

That’s all I have to say on this topic now.
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In terms of the evaluation, you are definitely much better off than with the public transport times.

The bank came up with a value of €460,000 - €470,000, similar to the assessment. Even with the currently still existing market premium, this house is priced too high.

We will calculate again and when the owners are back on site discuss the price and evaluation again but even if it "hurts," we will probably let it go.

Nevertheless, many thanks to everyone for the feedback. I will report again when the decision is final.

Best regards

The bench has a value of €460,000 - €470,000,

Now just a quick question, what kind of value is that? Internal value, market value, or lending value? Because there is not just one value. For example, if it is the lending value, it actually fits well with the purchase price.

The bank came up with a value of €460,000 - €470,000, similar to ’s assessment. Even with the currently still existing market premium, this house is priced too high.

We will recalculate once more and, when the owners are back on site, discuss the price and the valuation again, but even if it "hurts," we will probably have to walk away.

Why walk away – I would play it differently – clearly go for buying (once the pollutant analysis is in). You know what you’re doing, you want it, but – a price has to be found. The market premium is purely virtual – for a house like this it will soon be gone, as the market works differently. Write down the costs for the next two years, assuming 25,000 kWh and prices at 28 cents + surcharge. Something has to be done to the house now, and that will cost you a lot of money. I would definitely deduct that. And if they’re waiting for a fool – today no one is likely to get any money anymore. In half a year, everyone will know that an old house + gas is worth nothing anymore. Interest rates will probably go up a bit more, meaning – money stays expensive. And the banks want more collateral, meaning the buyer needs more equity.

Play the game – the realtor does it too, simulating the market situation from the boom times. What does it cost him to run the listing again? But you think there are loads of people full of money standing there wanting to buy. Yet they all get the same explanation from their bank as you do... So, “I want to buy, and we need to talk about pollutants and the price...” If it doesn’t work out, at least you tried more than with a simple rejection...

If you want the house and can buy it without hesitation, then make an offer. According to the motto
Dear Mr. xx,
after the viewings, etc., we have decided to submit an offer to purchase. After evaluation by the bank, the estimated costs of the necessary energy renovation, and the current situation in the real estate and financial markets, we offer xxx€ for the house. Attached is the bank’s financing commitment. We will keep the offer valid for two weeks; afterwards, we will withdraw from the purchase.

Kind regards

You actually have nothing to lose. Either you keep looking around, or the offer is accepted. The owners might possibly come back with a counteroffer. That is also okay. YOU are currently in the better position because you do not necessarily need the house but have the means to buy it. The market is currently characterized by uncertainties and high financing costs. This significantly limits the number of potential buyers.