"Colesville - Bealls Manor"

REAL ESTATE AUCTION

“Bealls Manor”

1.06± Acre
RESIDENTIAL LOT

Sale On Premises
GOOD HOPE ROAD
TAX ID: 03274844
Off New Hampshire Avenue, Near Twig Road
Silver Spring, Montgomery County, MD 20905

FRIDAY, OCTOBER 26, 2018
AT 12:00 NOON

– Suggested Starting Bid: $100,000 –

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 property is located in the Colesville area in eastern Montgomery County, and is within a Silver Spring zip code. Good Hope Road runs between New Hampshire Avenue (MD-650) and Spencerville Road (MD-198), a short distance above the Intercounty Connector (MD-200). Surrounding properties are a mix of single family homes, townhomes and County park land. Good Hope Park is a short distance to the east. Shopping, dining and neighborhood services are along New Hampshire Avenue. According to the Montgomery County School Locator, nearby schools are Dr. Charles R. Drew Elementary, Francis Scott Key Middle, and the Northeast Consortium of High Schools, which includes Blake, Paint Branch and Springbrook High Schools.

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

SITE:
Wooded lot – 45,986 square feet, or 1.06 acres, more or less, according to public tax records

Montgomery County Tax ID 03274844

See legal description for ingress and egress information

According to the Montgomery County Mapviewer, the property is in a W-3 water category (public service approved; needs extension), and S-1 sewer category (public service approved with access to main).
Mapviewer Link: http://gis.montgomerycountymd.gov/MapViewer/property.htm

Zoned: RE-2C, Residential Estate – 2C
For more information, see the Montgomery County Zoning web page.

TAX INFORMATION:
Montgomery County Tax ID 03274844
Published annual real estate taxes are $2,873.33, based on a full value assessment of $260,100. 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 property is in fee simple and sold free and clear of liens.

TERMS OF SALE:
A $10,000 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 12:00 Noon, Monday, October 29 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. 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