ONLINE REAL ESTATE AUCTION
“Fairmount Heights “
– On 0.14 Acre, More or Less –
1005 58th AVENUE
Off Eastern Avenue, NE
Prince George’s County, MD 20743
FRIDAY, JUNE 19, 2020
MONDAY, JUNE 22, 2020 AT 12:00 P.M.
– Suggested Starting Bid: $40,000 –
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.
1005 58th Avenue is located in the Fairmount Heights neighborhood in Capitol Heights, Prince George’s County. Surrounding neighborhoods include Deanwood Park, White Burrville and Seat Pleasant. The property is located within 0.2 mile of The District of Columbia. Commuters may take advantage of multiple transportation options available in the area, including the Capitol Heights Metro Stop (1.2 miles), Deanwood Metro Stop (1.3 miles), US-704 (1.7 miles), Baltimore Washington Parkway (MD-295) (2.4 miles) and US-50 (3 miles). Major employers in the area include FedEx Field and Largo Medical Center. According to the Prince George’s County school finder, nearby schools include Gladys Noon Spellman Elementary School, William Wirt Middle School and Bladensburg High School.
Lot – 0.14 acre, more or less
Zoned R-55, residential
All public utilities
Two story brick and vinyl siding home – according to public tax records, the house was constructed in 1974 and contains 1,280 square feet of living area. The home is believed to contain living room, dining room, half bathroom and kitchen, on the first floor; three bedrooms and a bathroom, on the second floor; no basement. The home will need a full renovation.
In fee simple; sold free and clear of liens.
Published annual real estate taxes are $1,880, based on a full value assessment of $180,400. According to Prince George’s County Tax Inquiry, other additional charges may include park & planning fees, storm water fees, transit fees, town levy fees, and other municipal charges. Full Property Tax Bill
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 REFER TO THE CONTRACT FOR THE COMPLETE TERMS OF SALE:
A $5,000 deposit, or ten percent (10%) of the Purchase Price (whichever is greater), in cash or cashier’s check to be delivered to the Auctioneer’s office at 6500 Falls Road, Baltimore, MD 21209, or sent by wire transfer, within 24 hours of Monday, June 22, 2020 at 12:00 P.M. (the bid closing). 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!