"Frankford-Overlea"

Live Auction Bidders – A $20,000 deposit on each offering or $40,000 as an entirety, 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. Personal checks for the difference in the 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 due by 4:00 p.m. on the day of auction at the auctioneers office.

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 please check back for the Sample Contract.

Live Onsite & Online Simulcast Bidding

FRANKFORD-OVERLEA

4 – TOWNHOUSE LOTS
Development Plan & Building Permits
5527 RITTER AVENUE
Units 1-4, Baltimore City, MD 21206
– Opening Bid $100,000 –

3 BEDROOM BUNGALOW
With Large Detached Garage
5529-5531 RITTER AVENUE
Baltimore County, MD 21206
– Opening Bid $150,000 –

Online Bidding Opens
MONDAY, JUNE 12, 2023

Live Onsite Auction
WEDNESDAY, JUNE 14, 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:
The properties are located on the northeast side of the Baltimore City-County line. 5529-5531 Ritter Avenue, the house and garage, are mostly located in Baltimore County. 5527 Ritter Avenue is situated in Baltimore City. The site is north of Hamilton Avenue, east of Cedonia Avenue, south of Hazelwood Avenue and west of I-95. Access to highways, public transportation and shopping is good. Neighborhood housing is a mixture of detached homes, townhomes and garden apartments. Newly constructed townhomes are one block east of the site. Nearby public schools are Elmwood Elementary, Golden Ring Middle and Overlea High, according to the Baltimore County government web site. Access to Ritter Avenue is from Hamilton Avenue. Ritter is a quiet residential street, ending just north of the site.

SITE:
Record Plat

The site is fairly level, clear and partially fenced.

5527 Ritter Avenue comprises four recorded townhouse lots – one 23′ x 125′ and three 20′ x 125′, situated along the east side of Ritter Avenue. Zoning R-5, residential. Public utilities are available. Building permit has been issued for four townhomes. Site and Building Plans

5529-5531 Ritter Avenue is an L-shaped parcel, fronting 67′ along the east side of Ritter Avenue by a depth of 220′, comprising 0.54 acre of land. The parcel is improved by a bungalow and detached garage, which are both situated in Baltimore County. Public utilities. Gravel driveway. The house and garage are currently rented for $1,760 per month, with lease expiring February 2024. Note: The tenant has requested that she be released from the lease by the end of July.  Lease and Section 8 Contract

IMPROVEMENTS:
5529-5531 Ritter Avenue is improved by a one story aluminum sided bungalow, built in 1957, containing 832 square feet of living area and 400 square feet of basement space, according to public tax records. A detached concrete block garage, with two overhead doors, comprises 750 square feet, according to the same records.

The home is renovated and is arranged as follows:

Exterior – vinyl and concrete siding, asphalt shingle roof, vinyl-clad replacement windows, partial above-grade basement, two bay garage

Main Level

• Living Room/Dining Room – Laminate floor
• Kitchen – Ceramic tile floor, wood cabinets, granite counters, electric range/oven, microwave, refrigerator, dishwasher, sliding doors to rear yard
• Full bathroom – Ceramic tile floor
• Primary Bedroom – Laminate floor

Lower Level

• Bedroom #1 – Ceramic tile floor
• Bedroom #2 – Ceramic tile floor
• Full Bathroom – Ceramic tile floor
• Laundry Room – Ceramic tile floor

Mechanical – electric heat pump and central air conditioning, 56-gallon electric water heater.

TITLE:
The properties are in fee simple and sold free and clear of liens.

TAXES:
Published annual property taxes are approximately $2,187 for 5527 Ritter Avenue (Units 1-4) and $3,293 for 5529-5531 Ritter Avenue. There are multiple tax bills and account numbers.

MANNER OF SALE:
5527 Ritter Avenue will be offered individually, first, and the bid reserved. 5529-5531 Ritter Avenue will then be offered individually, second, and the bid reserved. Both properties will then, third, be offered as an entirety. The properties will be sold in the manner producing the greatest result, in the sole discretion of the seller.

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

Live Auction Bidders – A $20,000 deposit on each offering or $40,000 as an entirety, 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. Personal checks for the difference in the 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 due by 4:00 p.m. on the day of auction at the auctioneers 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 30 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, 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” condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any. 5529-5531 Ritter Avenue is sold subject to the existing lease and the rights of the tenant(s) 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. 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.

Purchaser acknowledges that it is the intention of the Seller to create an IRS Section 1031 Tax Deferred Exchange (the “Exchange”) and that the Seller’s rights and obligations under this Contract may be assigned to a qualified intermediary (the “Intermediary”) to be designated by the Seller to facilitate such Exchange. Buyer agrees to fully cooperate with the Seller and Intermediary, at no additional cost or liability to the Buyer, to enable Seller to utilize the contemplated Exchange.