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6500 Falls Road, Baltimore, MD 21209
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A $10,000 deposit, or ten percent (10%) of the Purchase Price (whichever is greater), for each unit, 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, by 4 P.M. on the day of the auction. When you register for an online auction, a “ping” will be placed on your credit card and immediately voided, you will not be charged the deposit amount. 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 please see the Sample Contract.
SUITLAND
“Prince George’s County”
FOUR RENTAL READY
CONDOMINIUM UNITS
Located At:
MARLOW TOWERS
CONDOMINIUM
Saint Barnabas Road
Suitland, MD 20746
BIDDING OPENS:
TUESDAY, DECEMBER 10, 2024
BIDDING CLOSES:
THURSDAY, DECEMBER 12, 2024
Times and Opening Bids Listed Below
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:
The units are located in the Suitland area of southern Prince George’s County. The suburban community is considered part of the Washington DC metro area with a combination of residential, commercial and industrial areas. Located under 3 miles from Washington DC, the condominiums provide convenience to the nation’s capital, major employers and many entertainment venues. Within 2 miles of the units, there are several restaurants and grocery stores. Several bus and metro routes are available for residents just outside the condominium complex and within a short distance. The Capital Beltway (I-495) and other major commuting routes (RT-5) are also close by. According to the Prince George’s County Public Schools locator, the area public schools include Suitland Elementary, Drew-Freeman Middle School and Suitland High School.
For more information about the area, please visit:
Prince George’s County, Maryland – www.princegeorgescountymd.gov
School Finder – gis.pgcps.org
SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $10,000 deposit, or ten percent (10%) of the Purchase Price (whichever is greater), for each unit, 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, by 4 P.M. on the day of the auction. 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, condominium fees 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 Marlow Towers Condominium Association. 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.
Purchaser acknowledges that it is the intention of the Seller to create an IRS Section 1031 Tax Deferred Exchange (the “Exchange”) and that the Seller’s rights and obligations under the Contract may be assigned to a qualified intermediary (the “Intermediary”) to be designated by the Seller to facilitate such Exchange. Purchaser agrees to fully cooperate with the Seller and Intermediary, at no additional cost of liability to the Purchaser, to enable Seller to utilize the contemplated Exchange.
