"Upper Marlboro - Kings Council Condominiums"

REAL ESTATE AUCTION
$60,000 Suggested Opening Bid

“Kings Council Condominiums”

TWO STORY TOWNHOUSE
2 Bedrooms ◆ 2.5 Baths ◆ Garage

Sale On Premises
4742 KING JOHN WAY
Condominium Unit 203
Prince George’s County, MD 20772

FRIDAY, JULY 21, 2017
AT 11:00 A.M.

      Two story inside-group vinyl sided townhome was built in 1993 and contains 1,478 square feet of living area, according to public tax records. The home contains a living room, dining room, eat-in kitchen with breakfast bar, family room with fireplace, and half-bath on the first floor; two bedrooms and two baths on the second floor; built-in one-car garage; gas forced air heat and central air conditioning.

      Monthly condominium fee is  $291.04. Condominium Resale Documents.
      Annual homeowners association fee is $121. Homeowners Association Resale Documents.

      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.

      Published annual real estate taxes are $2,179 based on a full value assessment of $123,333. 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 $6,000 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 11:00 A.M., Monday, July 24, 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 8% per annum, from date of contract to date of settlement. All adjustments, including taxes, condominium or homeowners association fees, if any, 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. Purchaser agrees to waive any right of rescission under Maryland Homeowners Association and/or Condominium Law, if applicable. 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 4% buyer’s premium will be added to the final bid price.