"Arbutus - Oakland Terrace"

Karen Allen Nicolaus, Attorney
1002 Frederick Road – Suite 2
Catonsville, MD 21228

Featuring Live & Online Simulcast Bidding
– $150,000 Opening Bid –

“Oakland Terrace”

TWO STORY
COLONIAL HOME
3 Bedrooms ◆ 1.5 Baths

Known As
5550 GAYLAND ROAD
Baltimore County, MD 21227

Online Bidding Opens
Monday, March 15, 2021

Live Auction Begins
FRIDAY, MARCH 19, 2021
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:
5550 Gayland Road is located in the Arbutus/Halethorpe area of southwestern Baltimore County. Comprised of a mixture of single family detached homes and townhomes, Arbutus is a quiet community, with the neighborhood business district within walking distance. The area is convenient to I-95, I-695, the MARC train and BWI Airport. Nearby public schools are Arbutus Elementary, Arbutus Middle and Lansdowne High, according to the Baltimore County government web site.

SITE:
Lot size 55′ x 144′, comprising 0.1680 acre. Plat
Concrete driveway with 3-car parking
Utilities – public water and sewer, gas, electric, telephone, internet

IMPROVEMENTS:
Two story Colonial home, built in 1954, comprising 1,176 square feet of living area and 576 square feet of basement space, according to public tax records.

Exterior – aluminum siding, vinyl-clad, double-hung and casement windows, composition shingle roof, aluminum rainspouts, covered steel side porch, concrete block basement foundation.

Interior – plaster walls, wood floors

First Floor

• Living Room – carpeting over wood floor, coat closet
• Dining Room – carpeting over wood floor
• Eat-in Kitchen – vinyl floor, wood cabinets, laminate counters, gas range/oven, refrigerator
• Half-Bath – vinyl floor

Second Floor

• Master Bedroom – wood floor, double closets
• Bedroom #2 – wood floor
• Bedroom #3 – wood floor
• Full Bathroom – ceramic tile

Basement

• Club Room – vinyl tile floor, paneling
• Utility Room – vinyl tile flooring, washer, dryer, utility sink

Mechanical – gas forced air heat, central air conditioning, sump pump, 40-gallon gas water heater, circuit breakers

The home is well-kept but dated.

TITLE:
The property is in fee simple and sold free and clear of liens. Baltimore County Deed Book JLE 43350, Page 335.

TAXES:
Published annual real estate taxes are $3,639, based on a full value assessment of $208,567. 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.

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $20,000 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 11:00 A.M., Monday, March 22, 2021, at the Auctioneer’s office. Online bidders must post a 10% deposit by wire transfer or cashier’s check by 4:30 p.m. on the day of auction. 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. 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.

Karen Allen Nicolaus, Guardian of the Property of Patricia A. Geary-Moffo