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For Agents: please schedule online via ShowingTime.
For Individuals: Request Access to Property. Once the completed form has been received, you will receive inspection instructions via email. Inspection requests are normally answered Mon.-Fri. 9 am – 4 pm.
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 auction at the Auctioneer’s office (wire transfer instructions will be provided). 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.
J. Michael Holloway, Attorney
Holloway & Sullivan, LLC
7 St. Paul Street – Suite 625
Baltimore, MD 21202
– $40,000 Opening Bid –
ONE STORY BUNGALOW
514 TRUITT STREET
Wicomico County, MD 21804
Online Bidding Opens
MONDAY, MARCH 20, 2023
Online Bidding Closes
THURSDAY, MARCH 23, 2023
AT 11:00 A.M.
Pursuant to an Order of the Circuit Court for Wicomico County, passed in the Matter of Fred L. Jones for the Appointment of a Guardian of the Property, Case No. C-22-FM-22-000541, the undersigned Guardian will sell at online public auction, the above-captioned property as noted.
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.
514 Truitt Street is located in Salisbury, east of Business US-13, south of US-50 and north of Salisbury Parkway. The surrounding neighborhood is comprised of tidy, detached bungalows, most of which were built prior to World War II. According to Bright MLS, sales in the neighborhood ranged from $97,500 to $170,000 during the last twelve months.
Rectangular lot, approximately 50′ x 136′
Zoning R5, residential
Public water and sewer
One Story Bungalow, built in 1921, containing 948 square feet of living area, according to public tax records. The home has an enclosed front porch, vinyl siding, composition shingle roof, vinyl-clad double-hung windows, baseboard electric heat and crawl space foundation.
The house is believed to contain:
House will not be cleaned out.
The property is in fee simple and sold free and clear of liens. Deed Book 1430, Page 209.
Published annual real estate taxes are $1,031, based on a full value assessment of $60,100.
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 auction at the Auctioneer’s office (wire transfer instructions will be provided). 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, as well as building violation notices, if any. Purchaser assumes the risk of loss or damage to the property 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 Fred L. Jones