"Berea"

REAL ESTATE AUCTION

TWO STORY BRICK
TOWNHOME

Sale On Premises
1211 N. LUZERNE AVENUE
Near E. Biddle St.
Baltimore City, MD 21213

WEDNESDAY, JULY 18, 2018
AT 10:30 A.M.

– SUGGESTED OPENING BID: $2,500 –

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 property is located in the Berea neighborhood of East Baltimore, situated between Broadway East and Orangeville, just north of Biddle Street. The Berea neighborhood consists of primarily two and three story townhomes built in the early 1900’s. According to Livebaltimore.com “Residents of Berea enjoy the strong sense of community; friendly and engaged neighbors; and easy access to major commuter routes, employment at Johns Hopkins’ medical campus, and Downtown.”

For more information about the area, please visit:
https://livebaltimore.com/neighborhoods/berea/#.WuirwIgvyUk

SITE:
Lot: 14′ x 70′, more or less

All public utilities

Zoned R-8 Residential

Tax ID:0308151539030

IMPROVEMENTS:
Two story brick townhome – built in 1915, estimated to contain 1,456 square feet of living area and 728 square feet of basement area.

TAXES:
Current annual real estate taxes are $354 based on a full value assessment of $15,000 according to public tax records. 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:
http://dat.maryland.gov/realproperty/Pages/Assessment-Appeal-Process.aspx

TITLE:
Subject to a $90 annual ground rent; and sold free and clear of liens.

TERMS OF SALE:
A $2,500 deposit, payable by certified check or 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 within 24 hours 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, ground rent, 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. Seller to pay for Purchaser’s owner’s title policy premium if Purchaser uses Master’s Title & Escrow to conduct settlement. Time is of the essence.

No Buyer’s Premium!