"Pasadena - Lake Shore Area"

A $20,000 deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. If necessitated by price, the deposit shall be increased to 10% of the purchase price within 24 hours at the Auctioneer’s office. No buyer’s premium. For complete Terms Of Sale, see the Summary Terms Of Sale at the bottom of this page and see the Sample Contract.

Karen Allen Nicolaus, Attorney
1002 Frederick Road, Suite 2
Catonsville, MD 21228

Attorney’s Sale

$150,000 Suggested Opening Bid

PASADENA

“Lake Shore Area”

SPLIT-FOYER HOME
5 Bedrooms ◆ 3 Baths

Known As
8479 BUSSENIUS ROAD
Off Mountain Road (MD-177)
Anne Arundel County, MD 21122

Sale On Premises
WEDNESDAY, JANUARY 24, 2024
AT 2:00 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:
8479 Bussenius Road is situated in the Lake Shore area of northeastern Anne Arundel County, about one mile east of MD-100. The property is one block north of Mountain Road. Located on a peninsula between Bodkin Creek and the Magothy River, recreational opportunities abound. Several marinas are close by, as are the Compass Point Golf Courses, and Downs Park. According to the Anne Arundel County School Locator, nearby public schools are Lake Shore Elementary, Chesapeake Middle and Chesapeake High. Shopping, restaurants and community services are within walking distance.

SITE:
Level lot, approximately 100′ x 430′, comprising approximately 0.99 acre
Zoning R2, residential
Well and septic
Six-car parking pad

IMPROVEMENTS:
Split-Foyer Home, built in 1969, containing 1,344 square feet of living area on the upper level and 1,344 square feet on the lower level, according to public tax records.

Exterior – aluminum siding, composition shingle roof, wood sun deck with spa, frame detached garage, storage shed, above-ground swimming pool

Interior

The house needs updating and cosmetic repairs.

TITLE:
The property is sold free and clear of liens, subject to an annual $0.01 ground rent, payable on the 27th day of May, in each and every year, if demanded. Anne Arundel County Deed Book MMR 6753, Page 404.

TAXES:
Published annual real estate taxes are $4,250, based on a full value assessment of $386,433.

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 $20,000 deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. If necessitated by price, the deposit shall be increased to 10% of the purchase price within 24 hours at the Auctioneer’s office. 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, 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, WHERE IS” condition, subject to easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser assumes the risk of loss from the date of contract forward. 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.

No buyer’s premium.

Karen Allen Nicolaus, Attorney-in-fact for Carol A. Parsley