"Oliver"

REAL ESTATE AUCTION

THREE STORY
BRICK TOWNHOME

Sale On Premises
1539 N. CAROLINE STREET
Near Federal St.
Baltimore City, MD 21213

FRIDAY, OCTOBER 5, 2018
AT 12:45 P.M.

– SUGGESTED OPENING BID: $5,000 –

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 Oliver neighborhood of Eastern Baltimore City, surrounded by the East Baltimore Midway, Broadway East and Gay Street neighborhoods. The neighborhood consists of primarily two or three story brick townhomes built in the 1900’s. According to livebaltimore.com, “…the neighborhood is being revitalized with astounding speed and momentum. On a regular basis, homes are being newly-renovated and homeowners are investing in the community. Baltimore City Housing’s Vacants to Value program has seen much success in Oliver, and has changed entire blocks for the better, turning blight into beautiful new homes. Through a partnership with a non-profit organization called The 6th Branch, the Oliver neighborhood receives ongoing support from military veterans who have devoted themselves to making Oliver a safe place for families and residents to grow and live.” With close proximity to US Hwy. 1 and US Rt. 40, this property provides easy access to shopping, restaurants and employment centers of Downtown Baltimore.

SITE:
Rectangular Lot: 15’5″ x 80′, more or less

Public water and sewer

Zoned R8 – Residential

Tax ID: 0308061126020

IMPROVEMENTS:
Three story inside-group brick townhome constructed in 1900, believed to contain 2,389 square feet of living area and 796 square feet of basement space.

Exterior:
Three Story Brick
Flat built-up roof
Vinyl clad replacement windows
Fenced-in rear yard

Interior descriptions and photos coming soon!

TAXES:
Current annual real estate taxes are $652.94 based on a full value assessment of $27,667 according to public tax records. 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 subject to an annual ground rent of $120.00 (due 6/1 & 12/1); and sold free and clear of liens.

SUMMARY TERMS OF SALE – PLEASE REFER TO THE CONTRACT FOR THE COMPLETE TERMS OF SALE:
A $2,500 deposit, payable by certified check or 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 8 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, ground rent, 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. 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!