"Locust Point - Silo Point Condominium"

Oliveri & Larsen
635 N. Bestgate Road, Suite 200
Annapolis, MD 21401

TRUSTEES’ AUCTION

LOCUST POINT

“Silo Point Condominium”

Two Story, Top Floor
HIGH-RISE APARTMENT
CONDOMINIUM UNIT
2 Bedrooms ◆ 2.5 Baths ◆ Balcony
Sweeping Harbor & City Views
2 Parking Spaces

Known As
1200 STEUART STREET
UNIT 1046
Baltimore, MD 21230

Sale On Premises
THURSDAY, JANUARY 18, 2024
AT 10:30 A.M.

      By virtue of a Decree for Sale of Premises of the Circuit Court for Baltimore City, passed in the matter of the Silo Point Condominium Association, Inc., Plaintiff v. Llewellyn Smith, Defendant, Case No. 24-O-22-000900, the undersigned Trustees will sell at public auction, on the premises, the following:

      All that fee simple condominium unit, situate and lying in Baltimore City, Maryland, being more fully described in the Deed recorded among the Land Records of Baltimore City in Book MB 23633, Page 0425.

      The offered property is believed to comprise a two story end-unit top level apartment and common element parking spaces Nos. 944 and 945. According to public tax records, Silo Point was built in 2008, with the unit comprising 2,091 square feet of living area. The apartment is believed to contain a living room, dining room, kitchen, 2 bedrooms, 2.5 baths and balcony, with sweeping views of the Inner Harbor, Camden Yards, the Downtown Skyline and Key Bridge. Building amenities include security, fitness center and sky lounge.

      Condominium Plat

      The property is sold subject to but not assuming a prior Deed of Trust, dated May 20, 2021, in the original principal amount of $407,350, prior judgments and liens of record, plus interest and fees due thereon.

      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.

      TERMS OF SALE: A $5,000 deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. If necessitated by price, the deposit shall be increased to 10% of the purchase price within 24 hours at the Auctioneer’s Office. The holder of the indebtedness, if a bidder at the sale, shall not be required to post a deposit. Balance to be paid in cash at settlement, which shall take place within ten (10) business days following final ratification of the sale by the Circuit Court for Baltimore City at the offices of the Trustees. If payment of the 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. If settlement is delayed for any reason, there will be no abatement of interest. All adjustments as of date of contract. Taxes, condominium fees and all other public charges and assessments payable on a monthly or annual basis, including 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, without express or implied warranty as to the nature and description of the improvements as contained herein; subject to easements, agreements, restrictions or covenants of record affecting same, if any; and subject to the Declaration, By-Laws, Rules and Regulations of the Silo Point Condominium Association, Inc. 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 waives and releases the Trustees, the holder of the indebtedness, the Auctioneers, and their respective agents, successors and assigns from any and all claims the purchaser and/or its successors and assigns may now have or may have in the future relating to the condition of the property, including but not limited to the environmental condition thereof. If the Trustees are 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 Trustees, the holder of the indebtedness or Auctioneers. Recordation costs, transfer taxes and all other costs incidental to settlement to be paid by the purchaser. Time shall be of the essence for the purchaser.

      Authority to cancel this sale rests solely with the Trustees and/or the Auctioneer. Prospective buyers should disregard all other statements and comments made by any other person or entity regarding minimum bids, pricing and cancellations of the sale. Additional terms may be announced at the time of sale. The Trustees reserve: (1) the right to accept or reject any or all bids; (2) the right to modify or waive the requirements for bidders’ deposits and terms of sale and/or settlement; (3) the right to withdraw the Property from the sale before acceptance of the final bid; and (4) the right to cancel or postpone the sale.

No Buyers Premium

John M. Oliveri, Timothy J. Larsen and
Thomas J. Newton, Trustees