"Pasadena - Green Haven"

 REAL ESTATE AUCTION 

$100,000 Suggested Opening Bid

“Green Haven” 

LARGE UNFINISHED HOME 
On 0.32± Acre Lot 

Sale On Premises 
7808 MAYFORD AVENUE 
Anne Arundel County, MD 21122 

TUESDAY, FEBRUARY 27, 2018 
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:
7808 Mayford Avenue is located in the “Green Haven” subdivision of Pasadena, in northern Anne Arundel County. Green Haven is a well established neighborhood with hundreds of homes. Originally subdivided in the 1920s, the neighborhood is comprised of a variety of new and existing housing stock. Many neighborhood homes have been razed and rebuilt or substantially expanded. In 2017, neighborhood housing prices ranged from $110,000 to $618,400, according to MRIS.

Green Haven is located in the third County Council district. Nearby public schools are High Point Elementary, George Fox Middle and Northeast High, according to the Anne Arundel County government web site. The neighborhood is convenient to MD-100, providing access to employment centers throughout the metropolitan area.

The auction presents a unique opportunity to complete a large renovation project or raze the existing improvements and construct one or two more modest homes.

SITE:
Comprised of four 25′ wide lots, the property comprises 0.32 acres of land, according to public tax records. The site is level and clear. A former swimming pool is located in the rear of the existing home.

Zoning R5, residential

Public water and sewer

IMPROVEMENTS:
One and two story frame home with extensions, containing perhaps 4,000 square feet or more. According to public tax records, the original dwelling was built in 1944, contained 2,273 square feet and 2,123 square feet of basement space. The house has been expanded over time, but has been gutted and needs complete renovation.

TITLE:
The property is in fee simple and sold free and clear of liens. Anne Arundel County Deed Book 30899, Page 498.

TAXES:
Published annual real estate taxes are $3,156, based on a full value assessment of $280,500. 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

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 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, WHERE IS” condition, subject to easements, agreements, restrictions or covenants of record affecting same, if any, and subject to existing zoning, building or housing violation notices, 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. A 5% buyer’s premium will be added to the final bid price.