Buy It Now: $499,000 - "Pasadena - Long Point on the Magothy"

  Buy It Now: $499,000 

“Long Point on the Magothy”

WATERFRONT HOME
3,065± Sq. Ft. ◆ 0.45± Acre
Pier ◆ Boathouse ◆ Outbuildings
– Renovation Needed –

1681 GRANDVIEW ROAD
Anne Arundel County, MD 21122

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:
From the Long Point on the Magothy Community Association website – http://www.longpointonthemagothy.com, “Long Point on the Magothy is a residential area of about 400 properties located at the end of Long Point Road in Pasadena, Anne Arundel County, MD. The community is wonderfully water-privileged, with the Magothy River on two sides and Cornfield Creek on the other. The community maintains three community beaches and a residential-use Boat Ramp, and there are over 20 community-access points to the water. There is also a Community Hall located on Long Point Road that is available for rental to both residents and non-residents.

The Long Point Improvement Association (LPIA) hosts many events throughout the year such as visits from Santa, Halloween parties, beach parties, wine & cheese tasting get-togethers, beach clean-up days, and community yard sales. Events are posted on the sign outside the Hall as well as in the community newsletter, The Long Pointer. There are also a variety of neighborhood clubs that reflect current interests of our residents. Long-standing clubs include the Dinner Club, Garden Club, and Horseshoe Club, and there is a call now to see if there is any interest in starting a Paddlers Club for canoeists, paddleboarders, and kayakers.” Please see the website for additional information. Association dues are voluntary and are believed to be approximately $50 per year.

SITE:
0.45 acre clear, level site, fronting 86.71′ along the north shore of the Magothy River, providing outstanding sunsets.

Zoning R2, residential
Private well and septic
Wood bulkhead
Wood Pier with frame Boathouse
Asphalt driveway with 4-car parking

Location Survey

NOAA Chart 12282

Published records indicate that the property is located in Zone X, outside the 100 and 500-year flood plains, FEMA Flood Map Panel 24003C0177F.

IMPROVEMENTS:
Two story traditional home, containing 3,065 square feet of living area, according to public tax records. Also according to public records, the original home was built in 1945 and expanded over the years.

Exterior
Vinyl siding
Vinyl-clad double-hung windows
Composition shingle roof with aluminum rain gutters
Concrete block foundation (crawl space)

First Floor

• Living/Dining Room – carpeting
• Eat-in Kitchen – vinyl floor, wood cabinets, laminate counters, dishwasher, refrigerator, electric range/oven
• Office – wood floor
• Bedroom #2 – carpeting
• Full Bathroom – ceramic tile
• Den (waterview) – carpeting, brick wood-burning fireplace
• Large Laundry Room – vinyl floor, washer, dryer, utility sink
• Utility Room

Second Floor

• Master Bedroom (waterview) – carpeting, walk-in closet
• Bedroom #3 – carpeting
• Bedroom #4 – carpeting
• Shower Bath – ceramic

Outbuildings

• Vinyl-sided Bathhouse with rest room, shower and storage room
• Vinyl-sided Studio with deck

Mechanical
Oil baseboard hot water heat
Central air conditioning
Well-X-Trol water softening system

The home needs updating and cosmetic repairs.

TITLE:
The property is in fee simple and sold free and clear of liens. Prior Deed Book 5121, Page 684.

TAXES:
Published annual real estate taxes are $6,621, based on a full value assessment of $622,867. 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:
https://dat.maryland.gov/realproperty/Pages/Assessment-Appeal-Process.aspx

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A 10% deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. 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.