Absolute Auction - "Reisterstown"

Dissolution of Partnership
★ABSOLUTE★
REAL ESTATE AUCTION
To the Highest Bidder – Regardless of Price!

BRICK OFFICE BUILDING
3,538± Sq. Ft. ◆ Zoned RO
On-Site Parking

Sale On Premises
1 E. CHERRY HILL ROAD
Corner Reisterstown Road
At Franklin Boulevard
Baltimore County, MD 21136

THURSDAY, OCTOBER 31, 2019
AT 11:00 A.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:
1 E. Cherry Hill Road is located in the heart of Reisterstown, at the southeast corner of Reisterstown Road and Franklin Boulevard (known as Cherry Hill Road on the east side of Reisterstown Road). Reisterstown Road and Franklin Boulevard is a major signalized intersection. The property is highly visible from all directions and has previously been sought out for community event and political signs. SHA daily traffic statistics indicate 31,000+ cars per day pass the property on Reisterstown Road.

The site is less than one mile east of I-795 Exit 7. Public bus transportation is along Reisterstown Road. Surrounding land uses include major commercial development, single family homes and garden apartments.

SITE:
Level, rectangular lot fronts approximately 145′ along the south side of Cherry Hill Road and approximately 85′ along the east side of Reisterstown Road, comprising approximately 13,031 square feet or 0.299 acre of land.

Zoning RO – residential/office

Utilities – public water, public sewer, gas, electricity, telephone, internet

Parking – 4 cars in driveway, 10+ cars on asphalt paved lot

IMPROVEMENTS:
One story brick building with finished lower level and separate entrance. The building was constructed in 1957, contains 1,769 square feet on the first floor, 1,769 square feet on the lower level, according to public tax records.

Exterior – composition shingle roof, vinyl clad replacement windows, concrete block foundation

First Floor- reception area, 2 private offices, general office area, break room

Lower Level – general office area and utility room

Gas forced air heat and central air conditioning

The building is vacant. Renovation may be needed.

TAXES:
Published annual real estate taxes are $4,628, based on a full value assessment of $280,500.

TITLE:
The property is in fee simple and sold free and clear of liens. Baltimore County Deed Book 16062, Page 464.

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. 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” condition, and 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. 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. 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.

Individual members of the selling entity reserve the right to bid on their own behalf.

No buyer’s premium.

Auction by order of 1 E. Cherry Hill Road, LLC