"Easterwood"

A $3,000 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 4:00 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 or $1,500 buyer’s premium, whichever is greater, 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.

– Opening Bid: $5,000 –

EASTERWOOD

TWO STORY
SHELL TOWNHOME

Known As:
1808 N. PAYSON STREET
Off North Avenue
Baltimore City, MD 21217

BIDDING OPENS:
TUESDAY, JUNE 6, 2023

BIDDING CLOSES:
THURSDAY, JUNE 8, 2023 AT 12:30 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:
1808 N. Payson Street is located in the Easterwood neighborhood of West Baltimore City. Surrounding neighborhoods include Coppin Heights, Mondawmin and Sandtown-Winchester. The area is experiencing a revitalization thanks to recent major investments in the community. Coppin State University, a historically black college, is located within a half mile and has been a key contributor to the community’s growth and development. The university has been expanding its academic offerings and investing in new facilities, including a new science and technology center, which will help to attract new students, faculty, and research opportunities to the area. Local developers, MCB Real Estate, MLR Partners and Atapco Properties, have broken ground on the first phase of Madison Park North, just a mile away. The multi-block redevelopment, slated to contain green space, new townhomes, retail and grocery, along with apartments and office space, is positioned to bring “generational impact” to the area, according to a press release by MCB. This project is expected to create thousands of jobs and bring in new residents to the area. The home is proximate to many public transportation options including bus service on North Avenue and the Baltimore metro near Mondawmin Mall. Major employers in the area include Coppin State University and Baltimore City Community College.

For more information, please see:
Neighborhoods – livebaltimore.com
Coppin State University – www.coppin.edu
Madison Park North breaks ground… – thedailyrecord.com
MCB Real Estate – mcbrealestate.com

SITE:
Lot – 13’10” x 80′. Plat

All public utilities

Zoned R-7, Residential

IMPROVEMENTS:
Two story inside group shell townhome constructed in 1915, according to public tax records. The home is believed to contain living room, dining room, kitchen, on the first floor; three bedrooms and bathroom, on the second floor; unfinished basement. The home is vacant but requires a complete renovation due to fire damage.

TITLE:
In fee simple; Sold free and clear of liens. Baltimore City Deed Book MB 24616, folio 285.

TAXES:
Published annual real estate taxes are $259.60, based on a full value assessment of $11,000.

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $3,000 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 4:00 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 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 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 or $1,500 buyer’s premium, whichever is greater, will be added to the final bid price.