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ONLINE REAL ESTATE AUCTION
12806 5th STREET
Off Maple Avenue
Bowie, Prince George’s County, Maryland 20720
TUESDAY, NOVEMBER 9, 2021
FRIDAY, NOVEMBER 12, 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.
12804 and 12806 5TH Street are located in the Bowie area of Prince George’s County. The neighborhood is sometimes referred to as Old Bowie or Huntington, a reference to the original town and subdivision surrounding a nearby railroad junction. More recently, Bowie has become a well demanded location for residents and businesses alike. Relatively equidistant from Washington, D.C., Baltimore and Annapolis, the location is exceedingly convenient for those traveling throughout the central Maryland area.
The properties are a short distance from Bowie State University, in addition to a number of other major employers. A number of parks and recreation facilities are nearby, including the Patuxent Research Refuge, Sandy Hill Community Park, Huntington North Recreation Area and a collection of trails around Cash Lake. According to the Prince George’s County School Finder, nearby schools are Rockledge Elementary, Samuel Ogle Middle and Bowie High.
The auction provides an opportunity to buy one or both properties and renovate them to taste. One of the buildings has been previously used as a mosque. And, there is some subdivision potential based on the zoning and number of platted lots that the properties sit on. Starting bids are $90,000 apiece, and $180,000 for the entirety.
For more information about the area, please visit:
Prince Georges County, MD – www.princegeorgescountymd.gov
City of Bowie, MD – www.cityofbowie.org
Prince Georges County Public Schools – www.pgcps.org
12806 5TH Street – Starting Bid: $90,000
Entirety Offering – Starting Bid: $180,000
MANNER OF SALE:
There will be three total auctions. 12804 and 12806 will each be offered individually (Auctions 1 and 2), with closing times of 11:00 A.M. and 11:05 A.M., respectively. The high bids for the individual offerings will then be reserved.
Both properties will then be offered as an entirety (Auction 3), with a closing time of 11:10 A.M.. If the total of the individual bids exceeds the amount of the entirety bid at the time the individual auctions close, the entirety bid will be increased by the auctioneer to reflect the total of the individual offerings.
The properties will be sold in the manner producing the best result at the seller’s sole discretion.
SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $10,000 deposit for each property ($20,000 if sold as an entirety), or ten percent (10%) of the Purchase Price (whichever is greater), in a cashier’s check to be delivered to the Auctioneer’s office at 6500 Falls Road, Baltimore, MD 21209, or sent by wire transfer, by 4:30 P.M. on the day of the 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!