"Capitol Heights - Chapel Oaks"

REAL ESTATE AUCTION

“Chapel Oaks”

RANCH HOME
– On 0.12± Acre –

Sale On Premises
1401 EARLY OAKS LANE
Prince George’s County, MD 20743

FRIDAY, FEBRUARY 23, 2018
AT 3:00 P.M.

– SUGGESTED OPENING BID: $50,000 –

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 Chapel Oaks neighborhood is situated in Capitol Heights, north of Sheriff Road and a short distance east of the Maryland Washington, D.C. line. The neighborhood was developed in the early 1940s, with most homes being constructed shortly thereafter. US-50 and MD-295 are both a short distance away, as are the Deanwood and Cheverly Metro Stations. According to pgcps.org, nearby schools are Robert R. Gary Elementary, G. James Gholson Middle and Fairmont Heights High.

For more information about the area, please visit:
http://www.pgatlas.com/
http://www.princegeorgescountymd.gov/2236/Portal
http://www1.pgcps.org/

SITE:
Lot size: 50′ x 100′ comprising 5,000 square feet or 0.115 acre, more or less

All public utilities

Zoned R-55 Residential

IMPROVEMENTS:
Ranch home – built in 1944, containing 700 square feet of living area and 700 square feet of basement space, according to public tax records. Needs renovation. More information coming soon.

TAXES:
Current annual real estate taxes are $2,024.41 based on a full value assessment of $129,300. 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:
In fee simple; and will be sold free and clear of liens.

TERMS OF SALE:
A $5,000 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 PM, Monday, February 26 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!