"Berea"

REAL ESTATE AUCTION
– Suggested Opening Bid: $10,000 –

Two Story
BRICK TOWNHOME

Sale On Premises
2630 E. FEDERAL STREET
Baltimore, MD 21213

THURSDAY, OCTOBER 5, 2017
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:
2630 E. Federal Street is located in the Berea neighborhood in northeast Baltimore City. The property is located about 0.7 miles south of Belair Road and 1.2 miles north of E. Monument Street, a thriving corridor in East Baltimore. Johns Hopkins Hospital is situated roughly 1.5 miles southwest. Collington Square Park, various commercial buildings and public transportation are located conveniently within walking distance. The area is predominantly composed of townhomes and garden apartments.

For more information about Baltimore City neighborhoods, please visit:
http://livebaltimore.com/neighborhoods/

SITE:
Rectangular lot 19′ x 100′, more or less

Zoning R-6, residential, single family

All public utilities

IMPROVEMENTS:
Two story brick inside-group covered porchfront townhome arranged for 2 units – according to public tax records, the home was constructed in 1950, contains 1,216 square feet of living area and 608 square feet of basement space. The home features vinyl-clad replacement windows, common interior entry and contains:

Lower Unit (First Floor/Basement)

• Living room
• 2 Bedrooms
• 1.5 Bathrooms
• Kitchen
• Utility/storage area
• Rented for $750/mo. The rent is believed to be delinquent.

Upper Unit (Second Floor)

• Living room
• Kitchen
• Bedroom
• Bathroom
• Currently rented for $425/mo.

Note: The property is currently occupied.

TITLE:
Subject to a $90 annual ground rent (due in semi-annual installments on 4/1 & 10/1); and sold free and clear of liens.

TAXES:
Published annual real estate taxes are $1,873.84 based on a full value assessment of $79,400. 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 $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 within 24 hours at the Auctioneer’s office. 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 settement. All adjustments, including taxes, ground rent, 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, as well as existing zoning. Purchaser shall be responsible for obtaining physical possession of the property and assumes the risk of loss or damage to the property 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!