Absolute Above $10,000 - "Fells Point National Historic District"

ABSOLUTE REAL ESTATE AUCTION
– To The Highest Bidder Over $10,000 –

Three Story End-Of-Group
TOWNHOME

Sale On Premises
1511 BANK STREET
Baltimore City, MD 21231

TUESDAY, FEBRUARY 7, 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:
1511 Bank Street is located in the Fells Point Neighborhood and National Historic District. The home is situated in the middle of Little Italy, Harbor East, Harbor Point, the heart of Fells Point and Johns Hopkins Hospital. The location is convenient walking distance to countless employers, dining and entertainment options. Downtown Baltimore and I-83 are also a short distance away.

For more information about Fells Point, please visit:
https://livebaltimore.com/neighborhoods/fells-point/
and
http://baltimore.org/neighborhoods-maps-transportation/fells-point

SITE:
Rectangular lot 15′ x 70′, more or less

Rear patio

Zoning R-8, residential, single family

All public utilities

IMPROVEMENTS:
Three story brick end-of-group townhome – the home was constructed in 1880, contains 1,438 square feet of living area and 450 square feet of basement space, according to public tax records. The home is arranged for 7 rooms (4 bedrooms), bath and basement. Needs renovation.

TITLE:
In fee simple; and sold free and clear of liens.

TAXES:
Published annual real estate taxes are $3,584.84 based on a full value assessment of $151,900. 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 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 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 thereaftter 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!

Sale By Order of the Estate of Frederick Allen McGee