"Westminster"

Live Auction Bidders – A $25,000 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 (company or personal checks for the increased deposit will be accepted at the sale site or wiring instructions will be provided).

Online Auction Bidders – A 10% deposit, payable by wire transfer or cashier’s check, is required by 4:00 p.m. on the day of auction. No exceptions. 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.

Live Onsite & Simulcast Online Bidding
$250,000 Opening Bid

WESTMINSTER

3 – INVESTMENT
TOWNHOUSES
Condominium Units

Sold as an Entirety

Known As
46, 54, 56½ JOHN STREET
Off Main Street
Carroll County, MD 21157

Online Bidding Opens
MONDAY, SEPTEMBER 16, 2024

Live Onsite Auction
TUESDAY, SEPTEMBER 17, 2024
AT 11:00 A.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:
The neighborhood surrounding the John Street Condominiums in Westminster, is a charming and historic area. Westminster is known for its small-town feel, with a mix of residential homes, local businesses, and community amenities. The area features a variety of housing options, including townhouses and single-family homes. Many of the homes are older, adding to the historic charm. The neighborhood is served by Carroll County Public Schools, with William Winchester Elementary School, Westminster West Middle School, and Winters Mill High School all located nearby. McDaniel College is within walking distance. Residents have access to local amenities, including parks, shops, and restaurants. The downtown area of Westminster is just a short distance away, offering additional dining, shopping, and entertainment options.

SITE:
The John Street Condominiums are part of a seven unit condominium regime. Each townhouse fronts on John Street with a fenced rear yard designated for that unit. See the Condominium Plat for the site plan, elevations and floor plans. Public utilities.

IMPROVEMENTS:
Each house is two and one-half stories, wood and vinyl sided, has a metal or composition shingle roof, vinyl-clad double-hung windows, and stone foundation. According to public tax records, the homes were built in 1900 or prior. Zoning is classified as “Downtown.”

46 John Street is a semi-detached 2 bedroom and bath townhome, currently rented for $1,200 per month (Section 8). According to public tax records, the unit comprises 1,065 square feet of living area and 480 square feet of basement space. Condominium fees are $87 per month.

54 John Street -is a semi-detached one bedroom and bath townhome, currently vacant. According to public tax records, the unit comprises 585 square feet of living area. Condominium fees are $47 per month.

56½ John Street is a detached 3 bedroom and bath townhome, currently rented for $1,400 per month. According to public tax records, the unit comprises 1,152 square feet of living area and 320 square feet of basement space. Condominium fees are $97 per month.

Tenants are long term and there is an opportunity for increased rents.

TITLE:
The units are known as Units Nos. 46, 54 and 56½, as shown on the Plat entitled, “JOHN STREET CONDOMINIUMS” and recorded among the Plat Records of Carroll County in Plat Book 49, pages 28-31, and further referred to in a Condominium Regime Declaration and exhibits thereto of The John Street Family Limited Partnership, dated May 19, 2005 and recorded among the Land Records of Carroll County In Liber 4433, folio 72. The entire condominium regime is subject to an annual $15 ground rent (total for all seven units), payable on the first days of April and October in each and every year.

TAXES:
Published annual real estate taxes and assessments are as follows:

ADDITIONAL INFORMATION:
Please complete the Waiver and Confidentiality agreement to receive:

• Leases
• MDE Lead Free Certificates
• Income and Expense Statements
• Condominium Resale Package

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.

Live Auction Bidders – A $25,000 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 (company or personal checks for the increased deposit will be accepted at the sale site or wiring instructions will be provided).

Online Auction Bidders – A 10% deposit, payable by wire transfer or cashier’s check, is required by 4:00 p.m. on the day of auction. No exceptions.

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. All adjustments, including taxes, condominium fees, rents, 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 settlement and assumed thereafter by the purchaser. The property will be sold in “AS IS, WHERE IS” condition, subject to easements, agreements, restrictions or covenants of record affecting same, if any, subject to the Declaration and Bylaws of the John Street Condominium Regime, as well as leases and the rights of tenants in possession. 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 and agrees to waive the right of rescission under the Maryland Condominium Act, having received and reviewed the condominium resale package prior to the signing of the contract of sale. 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.