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ONLINE REAL ESTATE AUCTION
To The Highest Bidder Above $5,000
– 1.2 ± Acres –
Queen Anne’s CountyTax ID: 1802024373
Chestertown, MD 21620
FRIDAY, MAY 15, 2020
MONDAY, MAY 18, 2020 AT 12:00 P.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.
The property is located within the Kingstown subdivision in the water rich Eastern Shore community of Chestertown in Queen Anne’s County. The parcel is on the banks of Fishing Creek off of the Chester River, a tributary of the Chesapeake Bay. Just across the river, within a half mile, are many dining, retail and entertainment options for residents to enjoy including coffee shops, pubs, restaurants, fitness centers and libraries. Washington College and University of Maryland Shore Medical Center are major employers in the area. According to the Queen Anne’s County Public School locator, the public schools are Churchill Elementary School, Sudlersville Middle School and Queen Anne’s High School.
Lot – 1.2 acres, more or less, according to public tax records.
Well and septic are believed to be required.
The property may be in a FEMA designated flood category. For more information, please visit: FEMA Flood Map Service Center: Search By Address
NC – 20, Neighborhood conservation zoning . According to the Queen Anne’s County Zoning Ordinance, minimum lot size for new development is 10,000 square feet.
In fee simple; sold free and clear of liens.
Published annual real estate taxes are $1,074, based on a full value assessment of $112,000. 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 see the contract of sale for complete terms.
A $2,500 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, May 18, 2020 at 12:00 Noon (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. 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.