"Silver Spring - Highland View of Sligo Park"

REAL ESTATE AUCTION

“Highland View of Sligo Park”

RANCH HOME
– On 0.15± Acre Corner Lot –

Sale on Premises
300 E. SCHUYLER ROAD
Corner Walden Road
Montgomery County, MD 20901

THURSDAY, DECEMBER 13, 2018
AT 11:00 A.M.

– Suggested Opening Bid: $250,000 –

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:
300 E. Schuyler Road is located in the Silver Spring area of Montgomery County, approximately 2.5 miles northeast of the Washington, D.C. line. The home sits less than one mile from E. University Boulevard (MD-193), and approximately one mile from Capital Beltway (I-495) exit 29. The Silver Spring Metro Station is about 2 miles to the southwest, and the Forest Glen Metro Station is a little over 3 miles to the northwest. A shopping center with a grocery store is less than one-half mile south. Additional shopping, dining and entertainment options are available along University Boulevard and in downtown Silver Spring. According to the Montgomery County Public Schools Assignment Tool, nearby schools are New Hampshire Estates Elementary, Oak View Elementary, Eastern Middle and the Downcounty High School Consortium (choice process for Blair, Einstein, Kennedy, Northwood and Wheaton High Schools).

For more information about the area, please visit:
http://www.montgomerycountymd.gov/
http://www.montgomeryschoolsmd.org/

SITE:
Irregularly shaped lot comprising 6,696 square feet, or 0.154 acre, more or less.

The lot fronts approximately 77′ along E. Schuyler Road, and 76′ along Walden Road

Partially fenced yard

Mature landscaping

All public utilities

IMPROVEMENTS:
Brick and siding ranch home – constructed in 1947, containing 1,123 square feet of living area and 1,123 square feet of partially finished basement space.

INTERIOR:

First floor:

• Living room – hardwood flooring with fireplace
• Dining room – hardwood
• Kitchen – laminate tile
• Sunroom
• Bedroom – hard wood
• Bedroom – hard wood
• Bedroom – subfloor
• Bathroom – tile floor

Basement/mechanical:

• Unfinished with some framing
• Utility sink
• Central air conditioning
• 40 gallon water heater
• 200 AMP electrical

TAXES:
Published annual real estate taxes are $4,558.79 including solid waste charges, excluding a $471.63 Clean & Lien Fee. The full value tax assessment for 2018 is $373,100.

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:
http://dat.maryland.gov/realproperty/Pages/Assessment-Appeal-Process.aspx

TITLE:
The parcel is in fee simple; sold free and clear of liens.

TERMS OF SALE:
A $25,000 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 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. Time is of the essence.

No Buyer’s Premium