"Gaithersburg - Villa Ridge Condominium"

Joshua Zukerberg, Attorney
1190 W. Northern Pkwy., Ste. 124
Baltimore, MD 21210

ESTATE AUCTION

CONDOMINIUM UNIT

Sale On Premises
408 GIRARD STREET
UNIT #44
A/K/A UNIT #T-4
Montgomery County, MD 20877

FRIDAY, NOVEMBER 30, 2018
AT 11:00 A.M.

– Suggested Opening Bid: $20,000 –

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:
The Villa Ridge Condominium is located along Girard Street and Victory Farm Drive in the Gaithersburg area of central Montgomery County. The conveniently located community is approximately 1 mile from the Gaithersburg Metro Stop, 1.5 miles from Lakeforest Mall, 2.5 miles from I-270, and within close proximity to both I-370 and the Intercounty Connector (MD-200). Bus service is available along Girard Street. Substantial shopping, dining and entertainment options are available nearby. According to the Montgomery County Public Schools School Assignment tool, nearby schools are Gaithersburg Elementary, Middle and High.

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

BUILDING:
Villa Ridge Condominium comprises a collection of 29 garden-style buildings containing a total of 417 units. The community features a pool, community center, tennis courts, basketball court, playgrounds and other recreational activities. Community events are held throughout the year. Permit parking is available on-site.

For more information about the community, please visit:
https://www.villaridge.org/default.aspx

UNIT:
Terrace level garden-apartment style condominium unit. The building was constructed in 1975, and the unit comprises 1,103 square feet of living area, according to public tax records. The unit is believed to contain:

• Living room and dining room combination – carpet
• Galley kitchen – laminate floor
• Bedroom – carpet
• Bath
• Utility room
• Electric heat pump and CAC
• Electric water heater

The unit requires full renovation. Currently occupied by a family member. Buyers are responsible for obtaining physical possession of the property.

CONDOMINIUM FEE:
$636/month. Condominium Resale Package.

TAXES:
Published annual real estate taxes are $1,236.03, based on a full value assessment of $90,000. Taxes include State Tax, Montgomery County Property Tax, Gaithersburg Property Tax, Solid Waste Charge and Stormwater Fee.

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

SUMMARY TERMS OF SALE – PLEASE REFER TO THE CONTRACT FOR THE COMPLETE TERMS OF SALE:
A $5,000 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 by 10:30 A.M., Monday, December 3, 2018, 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, condominium fees, 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 Bylaws of Villa Ridge Condominium. Purchaser assumes the risk of loss from the date of contract forward. The purchaser agrees to waive the right of rescission under Maryland Condominium Law, having received and reviewed the Condominium Resale Package. 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!

Sale by Order of:
Joshua Zukerberg, Personal Representative for
The Estate of Helen Cornell