"Maryland Eastern Shore"

$20,000 Opening Bid

MARYLAND EASTERN SHORE

1.21± ACRE LOT
With Mobile Home

★ Financing Available ★

Known As
12924 OAKLAND ROAD
“RIDGELY”
Caroline County, MD 21660

Online Bidding Opens
MONDAY, MARCH 13, 2023

Online Bidding Closes
THURSDAY, MARCH 16, 2023
AT 12:00 P.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:
12924 Oakland Road (MD-312) is located about one mile north of Downtown Ridgely, in Caroline County Maryland. From MD-404, follow Ridgely Road (MD-480) to Central Avenue (MD-312). Central Avenue becomes Oakland Road. The mid-Shore location is near Tuckahoe State Park. The surrounding area is agricultural in nature. According to Bright MLS, closed residential sales in Ridgely ranged from $57,000 to $505,000, during the past six months.

SITE:
Known as Lot 8, Ja-Mar Acres, as per the plat recorded among the Plat Records of Caroline County in Plat Book 4, Plat 256. The property fronts approximately 200′ along Oakland Road, with depths of 292′ and 266′ and a rear lot line of 202′, comprising 1.21 acres of land. Plat

Zoning R, rural, one acre minimum lot size for residential use

The property is believed, but not warranted to have a private well and septic.

IMPROVEMENTS:
According to public tax records, the property is improved by a circa 1984 mobile home, comprising 1,152 square feet. The mobile home is in poor condition.

TITLE:
The property is in fee simple and sold free and clear of liens.

TAXES:
Published annual real estate taxes are $1,258, based on a full value assessment of $115,200.

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:  Assessment Appeal Process – dat.maryland.gov

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A 10% deposit, payable by wire transfer or cashier’s check, will be required of the purchaser by 3:00 p.m. on the day of auction at the Auctioneer’s office (wire transfer instructions will be provided). 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, as well as building violation notices, if any. Purchaser assumes the risk of loss or damage to the property from the date of contract forward. 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 10% buyer’s premium will be added to the final bid price.

FINANCING:
Seller provided financing is available – 70% of the purchase price, 12% interest, 2 points, 1 year maturity. Purchasers are under no obligation to use the financing, may obtain their own financing or pay cash.