"MD Eastern Shore - Cambridge"

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 the auction at the auctioneer’s office. 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. No buyer’s premium. For complete Terms Of Sale, see the Summary Terms Of Sale at the bottom of this page and see the Sample Contract.

Holloway & Sullivan, LLC
7 St. Paul Street, Suite 625
Baltimore, MD 21202

Guardian’s Sale

$25,000 Opening Bid

MD EASTERN SHORE

“Cambridge”

PORCHFRONT BUNGALOW
Known As
405 BOUNDARY AVENUE
Off Race Street (MD-341)
Dorchester County, MD 21613

Online Bidding Opens
MONDAY, OCTOBER 30, 2023

Online Bidding Closes
TUESDAY, OCTOBER 31, 2023
AT 12:00 P.M.

Pursuant to an Order of the Circuit Court for Dorchester County, passed in the Matter of Shirley Schulte, Case No. C-09-FM-23-000074, the undersigned Guardian will sell at online public auction, as noted above.

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:
405 Boundary Avenue is located about one-half mile west of US-50 in central Cambridge. Cambridge is located along the Choptank River, and has a rich maritime history. The surrounding neighborhood is well established and primarily consists of similar detached homes. Shopping and community services are within walking distance.

For additional information on Cambridge:
Cambridge Maryland – visitdorchester.org
Cambridge, MD – www.choosecambridge.com

SITE:
Level lot – 54′ x 122′, comprising 0.16 acre – record survey
Zoning R-3, residential
Public water and sewer
Fenced yard
Concrete driveway

IMPROVEMENTS:
One and One-Half Story Bungalow, built in 1924, containing 1,355 square feet of living area, 800 square feet of basement space and 460 square foot frame outbuilding, according to public tax records.

Exterior – vinyl siding, architectural shingle roof, double-hung windows, screened front porch, rear vinyl sided shed

First Floor

• Covered front porch – plywood floor
• Living Room – wood floor
• Dining Room – carpeting over wood
• Kitchen – vinyl flooring over wood, electric range/oven, microwave, refrigerator, wood cabinets, laminate counters
• Office (currently used as a bedroom) – wood floor
• Full Bath – vinyl floor
• Laundry – newer washer and dryer

Second Floor

• Three Bedrooms – 2 with wood floor, one with carpeting over wood
• Full Bathroom – vinyl floor

Basement

• Unfinished – utility sink

Mechanical – oil fired hot water baseboard heat, newer 266 gallon oil tank, sump pump, 200 amp. electric

Remaining furniture and personal property in the house will not be removed.

TITLE:
The property is in fee simple and sold free and clear of liens. Dorchester County Deed Book MLB 441, Page 180.

TAXES:
Published annual real estate taxes are $1,700, based on a full value assessment of $98,900.

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: 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 the auction at the auctioneer’s office. 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, 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. 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.

Terry K. Sullivan, Guardian of the Property of Shirley Ann Schulte