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A $5,000 deposit, or 10% of the purchase price (whichever is greater), payable by cashier’s check or wire transfer, will be required of the Purchaser by 4:30 P.M. on the day of the auction at the Auctioneer’s office, 6500 Falls Road, Baltimore, MD 21209. When you register for an online auction, a “ping” will be placed on your credit card and immediately voided, you will not be charged the deposit amount. A 5% buyer’s premium will be added to the final bid price. For complete Terms Of Sale, see the Summary Terms Of Sale at the bottom of this page and see the Sample Contract.
1518 N. BROADWAY
Near Federal Street
Baltimore City, MD 21213
TUESDAY, AUGUST 15, 2023
THURSDAY, AUGUST 17, 2023 AT 11:00 A.M.
– Starting Bid: $25,000 –
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.
1518 N. Broadway is located in the Oliver neighborhood in East Baltimore City. Surrounding neighborhoods include East Baltimore Midway, Broadway East and Gay Street. According to LiveBaltimore, the neighborhood has experienced a resurgence in investment, of which, some notable ones feature American Brewery building on Gay Street, the non-profit Humanim, Inc., and the Baltimore Food Hub campus, which hosts several food related businesses. Another development in the neighborhood is the A. Hoen Lithograph building, one of Baltimore’s architectural treasures. Johns Hopkins Hospital is located a short distance away – making the location attractive for those that are looking for work/life balance. Clifton Park is also located within a mile, offering an array of recreational activities. Major employers in the area include Johns Hopkins Hospital, Ferguson Plumbing Supply and the District Court for Baltimore City.
For more information, please see:
Neighborhoods – livebaltimore.com
Lot – 15’5″ x 90′, more or less. Plat
All public utilities
Zoned R-8, Residential
Three story inside-group townhome, constructed in 1915, according to public tax records. The large home is in shell condition with the rear wall of the home being collapsed. A complete rehabilitation is required.
In fee simple; sold free and clear of liens. Baltimore City Deed Book Liber MB 24722, folio 56.
Published annual real estate taxes are $1,378.24, based on a full value assessment of $58,400.
SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $5,000 deposit, or 10% of the purchase price (whichever is greater), payable by cashier’s check or wire transfer, will be required of the Purchaser by 4:30 P.M. on the day of the auction at the Auctioneer’s office, 6500 Falls Road, Baltimore, MD 21209. Balance to be paid in cash at settlement, which shall take place within 30 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 and 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. The Property will be sold subject to Baltimore City violation notices, if any. Purchaser assumes the risk of loss from the date of contract forward. The Purchaser waives and releases the Seller, 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. 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. A 5% buyer’s premium will be added to the final bid price.