"Annapolis - South Haven"

Live Auction Bidders – a $25,000 deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. The deposit shall be increased to 10% of the purchase price by 12:00 noon on Monday, October 3, 2022 at the Auctioneer’s office (wire or cashier’s check).
Online Auction Bidders – a 10% deposit, 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. 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.

Featuring Live & Online Simulcast Bidding
– $250,000 Opening Bid –

RANCH HOME
– On 0.64± Acre –

Known As
702 RIVERVIEW TERRACE
Annapolis, Anne Arundel County, MD 21401

Online Bidding Opens
WEDNESDAY, SEPTEMBER 28, 2022

Live Onsite Auction
FRIDAY, SEPTEMBER 30, 2022
AT 2:00 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:
702 Riverview Terrace is located in the South Haven, or Southaven, neighborhood in the Annapolis area of Anne Arundel County. The South Haven neighborhood comprises approximately 100 homes along the Porter Point peninsula between the South River and Broad Creek. A number of the homes front along the water, and neighborhood architecture varies. The community is water privileged, featuring water access and a beach on Broad Creek. Annual community association dues are believed to be $75 per year. Southaven Community By-Laws

The neighborhood is situated about 1.5 miles south of US-50, and 3 miles west of the Annapolis/Parole commercial district. The center of Historic Annapolis and the Naval Academy are approximately 8 miles east. The location offers excellent convenience to major employment and shopping districts while retaining the secluded, water-oriented feel that South Haven provides. Proximity to US-50 provides additional convenience, with good access to Washington, D.C. and the Bay Bridge. According to the Anne Arundel County Public School Locator app, nearby schools are Rolling Knolls Elementary, Bates Middle and Annapolis High.

For more information about the area, please visit:
Anne Arundel County, MD – www.aacounty.org
Visit Annapolis – www.visitannapolis.org
Annapolis, MD – www.annapolis.gov
Anne Arundel County Public Schools – www.aacps.org

SITE:
Lot size – 0.64 acre, more or less, according to public tax records

Known as Lot Numbers 5, 6, 7, 8, 9, 10, 11, 12 and 13 in Block “A” shown on the plat “Resubdivision of Original Lots 40, 41, 43, 44 and 45, Section One, Southaven on the South River” recorded at Plat Book 10, Page 32.

The property is believed to be serviced by private well and public septic.

Zoned R-1 Residential

Plat

IMPROVEMENTS:
Ranch home – constructed in 1950, containing 1,102 square feet of living area on the main floor and 1,102 square feet of mostly finished space on the lower level.

The home has been recently updated, including open layout, new kitchen and bathroom fixtures, new flooring and an array of other updates.

The home is arranged for a living room with fireplace, eat-in kitchen with breakfast bar, bedroom, additional office/bedroom and full bath, on the first floor; family room with wood stove, bedroom, full bath and utility areas, in the basement; pop-up attic; heat pumps; CAC; electric water heater.

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

TAXES:
Published annual real estate taxes are $3,679.25, based on a full value assessment of $305,167.

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. The deposit shall be increased to 10% of the purchase price by 12:00 noon on Monday, October 3, 2022 at the Auctioneer’s office (wire or cashier’s check).

Online Auction Bidders – a 10% deposit, 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. 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 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.