"Cecil County - Elk Mills"

REAL ESTATE AUCTION

TWO ADJOINING
SEMI-DETACHED HOMES

Sale On Premises
10 & 12 FRAME ROW LANE
Off Elk Mills Road
Cecil County, MD 21920

THURSDAY, AUGUST 2, 2018
AT 11:00 A.M.

– Suggested Opening Bid: $5,000 For Each Property –

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:
10 and 12 Frame Row Lane are located in the Elk Mills area of Cecil County, a short distance from the Big Elk Creek. The properties sit approximately 5 miles west of Newark, DE and the University of Delaware, and about 5 miles north of Elkton. I-95 exit 109 is approximately 3 miles to the southeast. Major employers are within close proximity, with access to additional employment centers via I-95. According to ccps.org, nearby schools are Kenmore Elementary, Cherry Hill Middle and Elkton High.

For more information about the area, please visit:
http://www.ccgov.org/

SITE:
10 Frame Row Lane – 3,684 square feet, or 0.085 acre, more or less, according to public records. The lot fronts 24′ on Frame Row Lane, with depths of 151′ and 156′, and a rear lot line of 24.4′

12 Frame Row Lane – 3,804 square feet, or 0.087 acre, more or less, according to public records. The lot fronts 24′ on Frame Row Lane, with depths of 156′ and 161.2′, and a rear lot line of 24.4′

The properties are believed to be serviced by well and private septic

IMPROVEMENT DESCRIPTION:
10 Frame Row Lane – Two story semi-detached home containing 1,024 square feet of living area, according to public tax records. Needs full renovation.

12 Frame Row Lane – Two story semi-detached home containing 1,024 square feet of living area, according to public tax records. Needs full renovation.

ANNUAL REAL ESTATE TAXES:
10 Frame Row Lane – Published annual real estate taxes are $942.73, based on a full value assessment of $76,533.

12 Frame Row Lane – Published annual real estate taxes are $939.27, based on a full value assessment of $76,233.

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:
In fee simple; being sold free and clear of all liens.

MANNER OF SALE:
The manner of sale will be announced at the time of the auction. The properties may be offered separately and/or as an entirety.

TERMS OF SALE:
A $2,500 deposit, for each property, 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. The Purchaser waives and releases the Seller, the Auctioneers, and their respective agents, successors and assigns from any and all claims the Purchaser and/or its successors and assigns may now have or may have in the future relating to the condition of the property, including but not limited to the environmental condition thereof. 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. Time is of the essence.

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