"MD Eastern Shore - Somerset County - Crisfield"

ABSOLUTE AUCTION TO THE
HIGHEST BIDDER ABOVE $10,000

MD EASTERN SHORE
Somerset County | Crisfield

BUNGALOW
ON 0.229 ACRE

Known As:
4778 Crisfield Highway
Near Crisfield Marion Road
Crisfield, Somerset County, Maryland 21817

BIDDING OPENS:
MONDAY, AUGUST 28, 2023

BIDDING CLOSES:
WEDNESDAY, AUGUST 30, 2023 AT 11:10 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:
4778 Crisfield Highway is located in the city of Crisfield of Somerset County. Located in the heart of Maryland’s Eastern Shore, Crisfield is bordered by the Tangier Sound and the Chesapeake Bay, providing a scenic backdrop to its rich history and modern attractions. Crisfield is known for its thriving seafood industry. Residents can enjoy fresh oysters and blue crabs from the surrounding waterways at the many restaurants on the Main Street. For nature lovers, Janes Island State Park offers miles of hiking trails, kayaking opportunities, and bird-watching spots. The nearby Wellington Beach and Somers Cove Marina provide recreational activities such as fishing, boating, and crabbing. Festivals and events are a highlight of Crisfield’s social calendar, with the National Hard Crab Derby being one of the most popular annual events, celebrating the city’s seafood heritage with crab races, carnival rides, and live entertainment. Major employers in the area include Chesapeake Shipbuilding Corporation, McCready Memorial Hospital and the various marinas and water-oriented industries. According to the Somerset County public schools locator, the area public schools are Carter G. Woodson Elementary School, Crisfield Intermediate School and Crisfield High School.

For more information about the area, please visit:
City of Crisfield – www.cityofcrisfield-md.gov
Somerset County, MD – www.somersetmd.us
National Hard Crab Derby – www.nationalhardcrabderby.com

SITE:
Lot size – 0.229 acre, more or less, according to public tax records.

Agricultural zoning

Public water is believed to be available on the property. Private sewer is believed to be required.

IMPROVEMENTS:
Bungalow, built in 1961, containing 800 square feet of living area, according to public tax records. The home is believed to be vacant. Raze or rehabilitation required.

TITLE:
In fee simple; and sold free and clear of liens.

TAXES:
Published annual real estate taxes are $524.82, based on a full value assessment of $41,800.

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 $5,000 or 10% deposit, 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 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, and subject to existing zoning. Purchaser assumes the risk of loss from the date of contract forward. 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, including agricultural transfer tax, if applicable, 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 7% or $2,500 buyer’s premium, whichever is greater, will be added to the final bid price.

NOTE: Buyer can select the title company of their choice. However, the seller will provide a $500 closing cost credit if the buyer uses Cotton Duck Title (www.cottonducktitle.com/).