"Reservoir Hill"

A ten percent (10%) deposit, in a cashier’s check to be delivered to the Auctioneer’s office at 6500 Falls Road, Baltimore, MD 21209, or sent by wire transfer. A 5% buyer’s premium will be added to the final bid price. For complete Terms Of Sale, see the Summary Terms Of Sale at the bottom of this page and see the Sample Contract.

RESERVOIR HILL

TWO STORY
CONDOMINIUM UNIT
3 Bedrooms ♢ 1.5 Bathrooms

Known As:
2040 LINDEN AVENUE, UNIT A
Near W. North Avenue
Baltimore City, Maryland 21217

BIDDING OPENS:
MONDAY, AUGUST 21, 2023

BIDDING CLOSES:
WEDNESDAY, AUGUST 23, 2023 AT 1:15 P.M.

NOTE: The information contained herein has been obtained from sources deemed reliable and is believed to be accurate. However, no express or implied warranty is made or may be inferred from any such representation. Dimensions, square footage and acreage contained herein are more or less. Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the property.

LOCATION:
2040 Linden Avenue, Unit A, is located in the Reservoir Hill neighborhood in West Baltimore City. Surrounding neighborhoods include Penn North, Bolton Hill and Druid Heights. The historic community of Reservoir Hill is famous for its architectural diversity displayed in its late 19th and early 20th century stand-alone mansions and porchfront townhomes. Druid Hill Park is a short walk north of the home and offers its residents long walking and bike trails, ball fields, the Rawlings Conservatory and the Maryland Zoo. Right down the street is the center of a recent $100 million mixed-use community development project known as Reservoir Square, formerly Madison Park North. The new community will feature 120 new townhomes, 200 apartments, approximately 100,000 SF of office space, community improvements and more. Commuters have convenient access to major thoroughfares, including I-83 for north/south travel and North Avenue for east/west travel. Major employers in the area include the University of Baltimore, Maryland Institute College of Art (MICA), and the University of Maryland Baltimore.

For more information, please see:
Reservoir Hill – livebaltimore.com
Reservoir Square – reservoirsquare.com
Reservoir Hill – www.baltimoremagazine.com

IMPROVEMENTS:
Two story condominium unit, constructed in 1900, comprising 1,382 square feet of living area, according to public tax records. The three story townhome where the unit is located has two units in total. There is a shared basement space for the utility room. The unit consists of living room, large eat-in kitchen, half bathroom, bedroom and ample closet space, on the primary level; two bedrooms with walk-in closets, washer/dryer area and full bathroom, on the secondary level. The building has separate gas and electric meters for each unit. The unit is vacant.

CONDOMINIUM FEES:
The unit is part of the Linden Rialto Condominium Association consisting of a total of 6 units. The condominium association is in a forfeited state and must be revived before conducting business again. No fees are being collected from the association.

In leu of the condominium resale documents, the declarations and by-laws of the condominium association are available.

TITLE:
In fee simple; Sold free and clear of all liens.

TAXES:
Published annual real estate taxes are $1,302.72, based on a full value assessment of $55,200.

Purchasers may petition for a reduction in the assessment of their property in conjunction with a purchase price substantially less than the currently assessed value of the property. Purchasers are encouraged to contact the Maryland State Department of Assessments & Taxation concerning the appeals process, and may see the following link for helpful information: Assessment Appeal Process – dat.maryland.gov

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A ten percent (10%) deposit, in a cashier’s check to be delivered to the Auctioneer’s office at 6500 Falls Road, Baltimore, MD 21209, or sent by wire transfer. Deposit funds shall be held by A. J. Billig & Co., LLC. Balance to be paid in cash at settlement, which shall take place within 45 days. If payment of the deposit or balance does not take place within the specified time, the deposit shall be forfeited and the property may be resold at the risk and expense of the Purchaser. Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of contract to date of settlement. All adjustments, including taxes, ground rent and all other public charges and assessments payable on a monthly or annual basis, and sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of contract and assumed thereafter by the Purchaser. The property will be sold in “AS IS” condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any, and subject to the Declaration and By-Laws of the Linden Rialto Condominium Association. The Property will be sold subject to Baltimore City violation notices, if any. Purchaser assumes the risk of loss from the date of contract forward. The Purchaser waives and releases the Seller, the Auctioneers, and their respective agents, successors and assigns from any and all claims the Purchaser and/or its successors and assigns may now have or may have in the future relating to the condition of the property, including but not limited to the environmental condition thereof. The purchaser agrees to waive any right of rescission under the Maryland Condominium Act, having reviewed all applicable documents prior to bidding on the property. The Purchaser agrees to waive the right of inspection for lead paint, as provided under current Federal and State law. If the Seller is unable to convey good and marketable title, the Purchaser’s sole remedy in law or equity shall be limited to the refund of the deposit. Upon refund of the deposit this sale shall be null and void and of no effect, and the Purchaser shall have no further claim against the Seller or Auctioneers. Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the Purchaser except where otherwise mandated by local, State or Federal law. Time is of the essence. A 5% buyer’s premium will be added to the final bid price.