"Catonsville - Oak Springs"

Louis J. Weinkam, Jr., Attorney
Weinkam & Weinkam, P.A.
1002 Frederick Road, Catonsville, MD 21228

ESTATE AUCTION
$150,000 Suggested Opening Bid

“Oak Springs”

Well Located, Brick
CAPE COD HOME
4 Bedrooms ◆ 2 Baths

Sale On Premises
526 FOREST LANE
Off Rolling Road
Baltimore County, MD 21228

WEDNESDAY, JULY 25, 2018
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:
526 Forest Lane is situated in the “Oak Springs” neighborhood of Catonsville, in western Baltimore County. The property is east of Rolling Road, south of Newburg Avenue and north of Bloomsbury Avenue. The surrounding neighborhood is a mixture of well-kept, detached, single family homes, built in the 1950s and 1960s, surrounded by larger Victorian homes. Oak Springs is four blocks south of the Frederick Avenue community shopping district, about one mile southwest of the Baltimore Beltway (I-695) and about one mile north of I-195, leading to I-95. According to the Baltimore County government web site, nearby public schools are Catonsville Elementary, Arbutus Middle and Catonsville High.

SITE:
Landscaped lot – approximately 62′ x 128′, comprising approximately 0.16 acre.
Public water, public sewer, gas, electricity
Two-car concrete driveway
Fenced rear yard
Ornamental fish pond
Shed

IMPROVEMENTS:
One and one-half story brick Cape Cod-style home, built in 1958, containing 1,596 square feet of living area and 1,064 square feet of basement space, according to public tax records.

Exterior
Brick facade
Composition shingle roof with aluminum rainspouts
Vinyl-clad, double-hung, replacement windows
Open front porch
Rear screened porch and sun deck
Concrete block foundation

First Floor
● Foyer – ceramic tile floor, coat closet
● Living Room – wood floor, brick fireplace, ceiling fan
● Dining Room – wood floor, ceiling fan
● Eat-in Kitchen – vinyl floor, gas range/oven, refrigerator, dishwasher, disposal, wood cabinets with Corian-type counters, exit to screened porch
● Bedroom #1 – wood floor, ceiling fan
● Bedroom #2 – wood floor, ceiling fan
● Full Bathroom – ceramic tile
● Linen Closet

Second Floor
● Bedroom #3 – large room, wood floor
● Bedroom #4 – large room, carpeting over wood floor
● Full Bathroom – ceramic tile

Basement
Full unfinished basement with outside exit, washer and dryer, utility sink, sump pump

Mechanical
Gas, hot water baseboard heat
Central air conditioning
Security alarm
Gas, 40-gallon water heater
100-amp. electrical service

TITLE:
The property is in fee simple and sold free and clear of liens. Baltimore County Deed Liber 12301, page 579.

TAXES:
Published annual real estate taxes are $3,681.28, based on a full value assessment of $272,300. 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 

TERMS OF SALE:
A $15,000 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 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, 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.

Auction by order of:
Louis J. Weinkam, Jr., Personal Representative
of the Estate of Mary Carol Klemm