Summary of the Expert Report on the Property

1. Property Description

• Location: Stellfelder Straße 21, 38440 Wolfsburg, District of Sandkamp
• Year of Construction: Around 1927
• Building Type: Multi-family house with 4 residential units
• Lot Size: 843 m²
• Living Space: 65 m² (Apartment No. 1, Ground Floor)
• Room Layout: 2 rooms, hallways, kitchen, bathroom
• Special Usage Rights:
  • Parking space No. 3
  • Terrace
  • Unbuilt open space S1 and S3

2. Market Value

• Determined Market Value: 181,000 Euros
  • Individual Values:
    • Apartment No. 1: 169,000 Euros
    • Special usage rights (Terrace and open spaces S1 and S3): 4,500 Euros
    • Parking space No. 3: 7,500 Euros

3. Legal Conditions

• Co-ownership Share: 171/1000 of the property in the residential land register of Sandkamp, Sheet 691
• Special Features: No acute defects or damages identified, apartment vacant since October 2021.
• Foreclosure: Ordered by the Wolfsburg District Court (Case Number: NZS 19 K 1/23)

4. Location

Regional Location:

• State: Lower Saxony
• City: Wolfsburg (approx. 125,000 inhabitants)

Local Location:

• Type of Development: Predominantly residential development of similar construction.
• Transport Connections: Good access to A39 and B188.
• Supply: Sufficient medical care and infrastructure.

5. Construction and Apartment Description

• Building Description:

  • Construction: Solid, with a plain facade plaster.
  • Roof Covering: Mansard roof, does not have thermal insulation.
  • Windows: Plastic windows without shutters, basic quality.
  • Floor plan and interior fittings: Medium standard, room layout modernized.

• Apartment:

  • Good room design, medium level of modernization, equipment requirements correspond to the year of construction (1927) and have only been partially modernized.

6. Economic Viability of the Buildings

• Rental Situation: Currently vacant, no commercial operation.
• Property Management/Maintenance Reserve: No information on management, no maintenance reserve known.
• Remaining Useful Life: Estimated at 30 years based on the year of construction and modernization.

7. Valuation Methods

• Applied Methods: Comparative value method; the asset value method was not applied due to a lack of significant unique characteristics.
• Market Value of Parking Spaces: Average purchase prices considered.

8. Important Notes

• No contractual or other legal obligations in Section II of the land register that could affect the value were identified.
• No warranty for the completeness or accuracy of information from third parties is assumed.

9. Conclusion

The report has assessed the property as valuable, with the special features of the location and the current market situation being decisive for the positive evaluation. No significant value-diminishing defects were identified. The thoroughly conducted valuation and analysis methods highlight the seriousness of the assessment and the realistic value of the property within the framework of the foreclosure.